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Home My WebLink AboutStaff Presentation { a i 3 ~EEE s i A ~ k(p ~ ~'~n 4 E F~ d S ~r q t > je C*Ity of Auburn 2009 Council Workshop ' i . ~ ncommi-t-ted Funding Sources -Z . ~ ~ F„~ lf f ~ . . .a . . . ' . . . . . _.r . . ..s,,.~.a..~ ...u~e a .a.. . Presented by: ~ 3 Shelley Coleman ~ Oy'~~c~ ~3 I Y Etx1 E'H ~ \E 4 ~ Finance Director ~ R~ May 8, 2009 ~ ~ ~Lx M.,..-77-44..~.:,,,a~.`.'~.,~„~~., 1 F q 1 ~ a ~ Pt, s E 2009 Revenues ~ I O~ ig,nal Budget Proposed Total ,~dj~s~~d Bu(.~~ ~et ' endment ~ad et ~ : I I 3 3 # 1 Amen e t ud g et ~ { ~a € ~ a ~ E ~ t' e1~~'t"al FL~~" ~°~d 3 q~f ~ 1 ~ 4 ~ ~ 6.w q 1 11V) i \../9d 9 911w./ " ` i E ~ ~ y.~ # e..a.,e...~..~--..Y._r.~.......m........ e..,._,,. ...........................e_.«.... . _.....,.....a.a«~..........~...~.~.... { cT4 ~ q 3 ~ _ ~ ~ ~,w ~4.A:~ ~ g A F/~~5 ,602, 45,508,600 ' $ g q f ~ £ i ~ q . . ................~...,........._,e.........._......._.....5.... _ 3 } ..a_....a.. ...v..m,....y..e.,.. theC FuCidS € 45,034,400 ; 5,281,520 0 50,315,920 ~ i7 F -a ...__...e.._»,~e.._d„~r___._____._.. b-.-........me....e_.. ~M ~ g ' ~"'oa r L ? ~ ~ ~ ~ ~ ~ y d -1 g i.J 1S.J q 3 ~ t,.,~ a. 1 j 1 0,111, ,06510) . i 3V ii Eu~;:z;~::,,.~m~~.•~a~c>z_w.,..;..,. z__.;-.~HV,,, . .~~...:.w,». zzhwuma~u:x::;::, u.,,.::<c..:.x....,,,.,..xi~,~v.:n~. .~.~.>.r~..mmwx ,:u.oa.~uac,v.a,...a:x..,:.:.v~,..ua,..e.::.:.~.~ . . , . 2 SCOR~ transactions tak~~~ ~inize it is a pass through ~ l.. ~ i Proposed Budget Amendment # 2 ah ~ ~ y ~ $11000,000) aies and Use Tax les Ta redit ior Annexati (500,000) ~ rd Games (129,079) ~ uilding Permits (254352) ~ ~ ~ (115,1048) ~ ' FAC ~.I ~~~~~~a~i~.:.~r""~~~ ,631 ; ~ ~per""~se~;»~ ..,.sene~~~~l FurE°~~~,evenue Re Ctl n ($2,065,110) 3 . Y: • . . . ~ v ~ f 3 ~ 2009 Expenditures I ~ t ] V ' r~ ~ L", z., .3e~ Proposed Total ~ £ ~ ~ ~ ~ t w.sK i a.< L' S, I» t Budget # 2 3 8 ' ~ d~ e& a ~ 3~..~. # E . ~ . . . ~ 7 » u~~ 0 C. a`~., .:r 0.~~) 69 64~ ~ ~ ~ t1 ~ ~ ~ T ~ ~ ~ ~ ~ ~ . W.., , ...,.~_d.. . ....n........... 6 9 ~ M"'I"'I'MI t1 l1 t1 S u & d ~ ~ ay 7 J 8060 28, i (3103 e a. - na-mme~ e._... mm . m mme ae~ ~ th'~. r F£ .s. i~ E,. E 5 , ...~s ~ (167 y ~ ~ ~ q ~g ~ 5 ~i ~a k T .C ~ , ~ ~ ~ , ..r ( j ~ Fu ? i,874,2 ~i~ t ($1ay~ 5 t1 ~ ~ 185,013,498 .s,,,,,_ -:a- - ,F:,. .,"~I~ nN~~~~"~ , ~ ~ ~-i..,1~`~,~,ig ~ ~,v 4 ~ ~ ~ r~ ~ ~"Al~ Proposed Budget Amendment #2 ~ ~ £ ~ uk, 'NC~''y~ . jiEE . ~ ^anu -e..aa ..w,..s.....,.rs.. ~ ~3 ~ie? Y ~ti laries 100 12 2) ~ ~ a1,s d Benefits (344,125) 3` ~ /YI tx. ~~ce (734,757) tiorn, a r e i.mT.j r~ rV y " . ~w~ (1 1, 218) s~~ f 9 11 ~ ~ ~ ~ ~f i ' 4 t>, tt t~ c c~I~ lmi - (188,900) - Total Pro~~~a.~ea' <.,.5 e& .u. 'iture Reduction 1, 5 59", 12 2) 5 o 2009 Ending Fund Balances/ ~ ` Working Capital 1, ~ uciget Proposed Total ~ i~~ ~ ~ ~ endme~it udget i ,~t~justed M,;; # Amen{~~ent j Budget k 2;~ ~ + J I 2 ~ Ge~1~'~°°c-l Fd~nd ~ ~,~~844,270 ; ~904) $4,871,366 a i S ~ 4 L R ~ ~ ~ ~ 10,045,1.,~ ~ ( ~'~a' ~ 5 , '`~y.~. ~ 310,3 ~ 61329,730 s~ 7~,,.,....~...~._..~_w~....,.,..._g._._..,..__.._.,_,...,......_..ww___ 3 F ! k ~ ~ ~ ~ C~ ~ i f ~ ~ . . ~f 9~s~ ~ ,596,~4~ 3w.~' 167,636 39,656,161 _ ~ _ w... ___.w. ~ ~ ~ ~ . . 7 „ ~ ~ P 5,50 $50,857,257 F.,~ ~ t~ ~.:g:~ ~ ~p~ ~ ~ g~ ~ ~ a ...~•rs 4. ,,,,~sz~.~-..~, e~e.. _ F-;. ..,.-..~:mr..a~,,,u.~ ~.x.~~ :.n.a.~m~mrusmm~ ` -~a~ 6 ~5 ~ E',~ Arterial Street Fund t Tca ~ i ~L 34 . . ..~..g. ;E ~ l ~ .gp eginn& ng Fuky~ . w«+~ ~a§ ~ a . ~ 4 ~.e 1,397,062 >s Frc ~ 'O.w id e9 0 u@.r a . rants 2,820,400 ~ T 1,800,000 n s j ~ ~ ~'4w 8 k . ane4 ~ M ~ t ..w a ~ F S ~ M 660,000 i w^~.v ranS~erS In (1' 2,258,220 ~ (2) ~ 5962 a ri $546 , ~ n c"u i ri. ~ F u n d 413-" (1) Transfers In ~~FT. Transp~~~~~~~~ ~~pact fees, Mitigation fees and REET 2 (2) For various projects, see Capital Facilit€es F'Ian for detai! 7 ~ yr ~ . r ~ Local Street Fund k~\~s ~ E g 31 Z ~ t 2009 ~ ' eginr~ing F u(-)d Balar~c~° 441,441 j ~ evenues. ~ ~ r ert ~"~x~S 292C~C),0C~Q ~ y f~J Investment Income 13,200 w+ Y° d ~ r rv TranSferS In (1 150,000 ) (2,421,200) £ ~~~~~es ~ ~ . - nding Fund Balance $383,447 (1) ."i...ransfers In - $50,000 e~~~~ ~~oirri Water, Sewer & Storm 1Jtilitie~ F'or Local Street Imp#~ over~~~t Program, see Cap€tal Facilities Plan for detail $ . ,N n ~ F x~ Local Street Fund Project Streets ~ ~ W -IME IM, ia. ..~d . ; i~. 27 7", ; ~ . - , s: ~ ~ ~ ~ . PROJECT N.:.. ta CP0731 N . 2007 ~evver Repf~~r ' .f ~ ~ . ~ , d~s ~ • . . ' - _ ti:f~ ~ aam!r. I S ..~y ~ ~ a F~.;~:~..,;u, ,~::2: i , ' ~ ~ S'. . ~ ~ : : I~~~ : . . . • ~ ~ ; r • ( 1 ~ . . a ~ . . . , . , ~ . ~ ~ , i~~CT~~,' E s,..... _ I . . rst~ E E ~I : , a.' . l: 4~ , ~~l!~ ~ y ' f J . . - , .,m- n 0 3` ~ ~ s d ' ~ ii't - ~ , -A . ~ 3 f t "~zm ~~o~s ev$ E eig or oo~ ; a e. s nip ro ve nii v ~ h L , ~ ~ - g ~ s ~ Arterial Street Preservation Fund ~ ~ ~ e~~~~~~~ ~und Sagance 0 ~~enUes: , Interfu~"Ni,~ Qexs 383,200 xternal Uti~~ty Tax 1,116,800 ~ ~ni"w ~ ~~~~~t-i-ke 27,000 ~ ~~i-isfers lri 2961100 = ~ (2) (1,819,000) . $4,700 , {1} ~~ansfers In - Utility t~x b-ziikance from Arterial Streefi Fund 102 (2) F,~~ ~~~~nw..fl Artei-eal & Crack Seal Pro ra ; see Capital 10 Facilities Plan for detail . ~ j ~ ~ Arterial Street Preservation Fund ct Streets Pro)e ' ~ ig. _.I . F ~ y ~ ~ Y „ ~ (4. r = I ~ Y ~ , ` j ~ } ' . ~ f i ! 91 I ~ ♦ ~ s . f g i e g I < , . , . „y . s , { f pim..... . ~ ' 0 ~ I I rt F. F ~ - ~ ~ V _ H ; 't i ~h b g,rG . 3 .:_'L . . . , , ~ t " . . ~ ~ . ~ J - - ~ 1 , ' ro : " ~ ~ s.w<mvnmw~xa~ew,~s.~vc+~es~.~am~w..,.e.... I~ • ` ,F''~,, q 3 ~ ,~s ~+4 ~ . t~ ~ ~ ~ ~ ~Is.,'x~ ~ ~ ~ S.;' ~s a%.:x.~ . ~ 0 ~ 3 N~rth ~ n'~ ~t N : 11 . ~a,~x~ ~ ~ ~ k Funding Decisions M'ade ~ -M~~~, Y ■ City Hall Annex . ~ ~E~ ■ Community Center , s ■ Downtown Property Acquisition , ; ■ City Hall Plaza ~ "sh f E ■ GSA Property Acquisition ~ ~ €r E ~ ' ~ 12 ~ aE~~€ t E € ~E E E(' 4E EE ,j Available Funding Sources ~ 5 ~ ~ 1 :'~5:'..~~ .~`i:':. . ~~'x . ~ $k:~'.. , , ~ . . xce.ttxc'..~.Y~"1f..^:1.'Y"'.J...,....`.:dm_ . f . ~ y~ ~ Uncommitted a s L ~E ~4 t ~ .............e..,._..._...._.,....~.._...,...._._.... ..e..._._...~.......,._.................................,.........e.,._...._e..... Yr l ~~e Reserve 5q6 ~2,2 L~ ___._..~.~._._.._._.._~_..._.__.._._..~_.___.~...~....~......._.a...e 4 5 Y F ~fi~~ itigati 1~ ~ && , ~ _ r~..~~ itw,ro> Z1,252,933 I~ rks Mitigation 65q t ~ ~rw~r ~ Pat s:. Ks I;.w act 15b,531 13 , y z Available Funding Sources ~r ~ S 6 d tl7, c'~`'i's~, , . ~ p,tp. t"., . . ; . . ~ . . •~till ~ .~{F C cR`f, I ¢~c¢r~.a5~m~7nzrm,ar,~id..~mmsttt aw.ne~t.taLUSwstta_ , m~A...~uhm'Famw.x _ x.,.. tum YMmYaGmtu..t wvrX~a-aaaut~M . '"""3 ~W~2'ak`Y•'~' E 3 ~'i ~ ~ d ~ x~s ~ T ~ Cash s d . ~ wn o n Re%,'a'~ i t al 1 1,080, ~ y. S m..e.e~m.,,,~m~m..em_.r.....,....~..,_. ..,...e.e ...e,......_,e,..,,,,e,~.~e.e. ...Y..~..... i s iDi 1,037,231 E~ yz ~ ~7 E t 332 I n ~ reS 71319 ther 1,153,180 . . ,,?~EF~~ ~ 1~296,154 ~ j 33544857 14 3 r~ C: ~ City Hall Annex Cost 'Purchas < ice 2 4 9 000 500 , EOC, Ti3 547919375 a••.,~ ~ ~ ~ ~~e~~,~~r~ ~ (2,155v4O ~ et Cost ~$2851359975 ~ ~ ~ ~ ss ~ .s~ ~ ~ ~ =~e~:~~ ~ _ (4,24395 x; ~ to be ~IF: ~ $2398929395 ~ 15 g i ~5 cc~ E~ City Hall Annex Cost (cont.) ~ ■ Annual Debt Service $1,9558.9224 u ~ ~ . a t ~ ~~E • ' ■ Utilities Contribution (750,000) y; £ 3 4 ~ ~w~~ ~c "V ~ € r~ ■ REET I Revenue Stream (808,224) ~ ~ , ~ - ■ Debt is calculated on 5.5 interest over 30 years ■ Council asked to redirect the $470,000 of the revenue stream earmarked for the Community Center to the Annex 16 . ~ ' City Hall Annex ~ ~F ~~d,r~ ~ ~ : s ..:'~"'a`,~"°~;'~.'~ -.qs'~' ..z.• ~",3 -.i<~.._,,.~ ~'i:'~ 'iw.s~~ ~a ~ 1,,. v~, w ~ d' i - ~ 0~ ~ ~ ~ 'i~ ~ ~ ~ ~ . . ~ i''a. ~u:..~' , ~ ~ ,t ~ ~ ~~'~.5, v terest 713,332 k 11153-9180 ~ Otiw~~ E. ~ ~ ET 1 9296, t ] t $41243,589 ~ 17 • R E ~ } N V Community Center G~ ~ ~w~,,;.,-,,x ~ , : ~ , . . ~N::~•~•. ~ ~ 008 2009 Total 5 6~y ~ 3 ~ i ~ wmwrwx YJ :F. . ! r~.m.m,e....,_a.m,,,.~...m,.....~.e . . ..........................~,...e., ..._....J~.a.,,m~,_~.,, . ,,,...,.e.... . ...e...,....,... e. ..a.......,_.. . .sm.v~ ~~u3 Sources ~ . . ~ ...._.._...W.M_..........._,_. _.,_..,.W......,......._...........______............_....___.._... C ~a7 q72~ $71,30 S tility Tax 1 $369 q 3 369,430 ~~.~r c s $1,081,810 ~ . ~ ~ Us~~,~ 3{ f Yh~ 7 i ~ e....e .................____...,,,_e,,..__._..,,.........,.. „ . y e.,.e....ee......e.e...,......m... ~ ~ f~rc~~itects 1, _ ~5~~ 623,092 160,647 785,589 e~~~~~olition 29,119 153,310 182,429 - ~~~~~~c Art ~ 25,424 21,250 46,67 £ # _ w . ~ . 80511 61,210 5,103 ~57,11 ? ~i otal Uses $11 1,81 18 • 3 t y <<.- v, , . ~ Community Center ~ ~ ~UP w;, ~ ~ , ' , ~ . , a , Council reallocated annual funding stream of REET I to the City Hall Annex project. f~ a ■ REET I cash remained committed by Council. ~ #4 p ~ ~g ~ 35 ~E3 £ ~ ■ REET 1 committed $4,300,000 35 ~ ■ REET 1 used to date (712-9400) ~E ~ ■ REET 1 balance $ ~ ~ ■ Solid Waste U-tility Tax collected $ 490,594 ■ Solid Waste Utility Tax used to date (369,430), ■ Solid Waste Utility Tax balance $ 121,164 19 • ~ E_ . , ~ i i Cumulative Reserve Fund ~j f... riL F , ~ F aw ~ . . Earmark $2.5 million of Cumulative Reserve ~ ~ fund for potential property acquisition. t~ Remaining balance, $3.1 million to be used for ~ General Fund stabiliza-tion. , ~ ~ ~ ~ 4 ? ; ~ ~ - 20 . s . LID Sidewalk Funds ry ~ ~Z.~~~':'?~' . ~ t' ~'r •r . _ . ~Y ■ Council directed these funds to be used as ; follows: ~ . ~ ■ Up to $250,000 for Safeway property ~ acquisition ~ ■ Fund phase 1 of CitY Hall Plaza, $690,000 i t , n k E ~E t a . E~~ y r ~ 21 ~ s r x , Debt Policy Considerations ~ y i ~ § . 1 ~ .......g ■ Allocate a percentage of General Fund ~ operating revenue for capital projects/debt Y service ~ ~z^ j■ Annually review and establish criteria for ~n ~ capital projects ; - ■ Guidelines on projects to be funded on a`pay as you g o' basis verses debt issuance 22 ~ s K p a: r ~ Council Feedback ~s 3 i x r 3 Y ~ ~ as ~~u ~y a ' ~ \ ~ 9 4 t ! ~ ; m" . yF Y . y, C • ~ d r, ®r" ~ t ~ ,s,.~ . . , l ~ ~ • '~r ~ ~ s.,~6'~ ~w~ ~ ~ , , t' . , ; ~ k i~~ „✓u, . < r A~ ~ a~w ~ r~ ~ ~ ~ . . ~ F~ R11 a.~ .W...:'....,,:- , . ,.~f<e.~..•i , 3~~ ~vu . . „~a~.~S~n~ ~ . . ,M..., . ..w... , x.,~e 23