City of Nevada FY 2019/2020 Budget Presented by: Matt Mardesen, - - PowerPoint PPT Presentation

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City of Nevada FY 2019/2020 Budget Presented by: Matt Mardesen, - - PowerPoint PPT Presentation

Jan 07, 2023 513 likes •1.11k views

City of Nevada FY 2019/2020 Budget Presented by: Matt Mardesen, City Administrator Kerin Wright, City Clerk February 7, 2019 City of Nevada You created this PDF from an application that is not licensed to print to novaPDF printer

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City of Nevada FY 2019/2020 Budget

Presented by: Matt Mardesen, City Administrator Kerin Wright, City Clerk February 7, 2019

City of Nevada

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SLIDE 2

What is Nevada’s Financial Situation?

Cash Solvency? Budgetary Solvency? Long-run Solvency?

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SLIDE 3

Purpose of Fund Balance

Guard against revenue fluctuations

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SLIDE 4

What is the City doing to Manage

  • ur Financial Situation?
  • Raised new revenues or increased fees
  • Cost Control
  • Doing More with Less
  • Releasing Residential from the TIF district
  • Lean – Reducing costs and improving

service

  • FY 2020 TIF Certification Reduction

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SLIDE 5

What are some examples of Financial Policies or Rules of Thumb that the City uses?

(What is our tolerance for risk?)

  • Investment Policy
  • Debt Policy
  • Purchase Policy
  • Fund Balance Policy

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SLIDE 6

How does the City monitor the finances?

  • Monthly budget to actual report
  • Monthly bank reconciliation
  • Quarterly budget line-item review per fund
  • Regular project status reports
  • Annual Audit
  • Annual Finance Report

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SLIDE 7

Budget as Team Sport

The nice thing about teamwork is that you always have others on your side.

  • -Margaret Carty

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SLIDE 8

Who are the Members of the City’s Finance Team?

1. Elected Officials: Council members Barb Mittman, Luke Spence, James Walker, Mayor Brett Barker, Dane Nealson, Jason Sampson and Brian Hanson 2. City Staff 3. Project specific technical experts (i.e. Engineers) 4. Independent financial advisors 5. Bond Counsel 6. Citizens

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SLIDE 9

What are some of the City’s plans that help put together a City’s budget?

  • Vision 2020 Plan
  • Strategic Plan (2-year On-going Project

and New Initiatives; Goals and Action Plans)

  • Departmental Forms and State Forms
  • Comprehensive Plan
  • Capital Improvement Plan
  • Equipment Revolving Plan
  • Financial Policies

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SLIDE 10

Nevada: A Financial Sound City

  • City services delivered in most effective manner
  • Upgraded City technology and financial systems

(including data security)

  • Maintained best bond rating
  • Increased City’s financial reserves
  • Leveraged City resources through outside

grants, partnerships and private contributions

  • Users paying for cost recovery of the delivery of

City services

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SLIDE 11

Budget Timeline

August – Updating the Insurance Renewal and Wellness Programs September/October – Updated plans and had discussion with budget committee on services and cost saving November – Budget worksheets out and due and Human Service groups made presentations December – Budget committee reviews LOT, H/M, TIF, and CIP spreadsheets before and after citizen committee makes Human Service group recommendations January – Staff fine tunes budget by line item, Council approves LOT, H/M and TIF distributions February – Budget work session and Set Public Hearing March – Public Hearing and Approve Budget

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SLIDE 12

Budget Year

Fiscal Years: July 1-June 30

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Budget as a Plan

  • Based on projections
  • Actual experience may vary, may need

to adjust during the year

  • Budget sets policy for the upcoming

year, determines projects that will be undertaken, etc.

  • Also a communication tool

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Budget Adoption

  • Rigid and regulated by state
  • Budget is an appropriation, giving the

city the authority to spend

  • Provides maximum citizen oversight

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SLIDE 15

Legislative Limits

  • State places limits
  • State requires expenditures
  • Water Excise Tax

Results in mandates!

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SLIDE 16

$

Revenues Expenses

July January June

City Revenue Cycle

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Taxable Value

Property Tax Base (assessed value of properties in the city)

Several types of tax base:

  • Residential
  • Multi-Residential
  • Commercial
  • Industrial
  • Agricultural
  • Utility

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SLIDE 18

State Limitations

The Rollback means that property is not taxed at its full value, only a percent.

State sets the percent for a whole class of property. Effects residential property the most.

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SLIDE 19

Levy Rates

  • Different rates available
  • Usage and/or amount is limited
  • Expressed in dollars and cents per 1000

General Fund capped at $8.10/1000

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Residential Property Example

(Assessed Value) $100,000 X (State Limitation) 56.9180% Taxable Value $56,918 Example (Taxable Value) $56,918.00 X (City Levy Rate) $14.618/1000 Total City Property Tax Revenue $832.03

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State Residential Rollback History

Residential Property FY 19/20 FY 18/19 FY 17/18 FY 16/17

Rollback

56.918% 55.6209% 56.9391% 55.6259%

City Millage rate of $14.618

$14.618 $14.618 $14.618

Property Tax

$832.03 $813.07 $832.34 $813.14 The Table below illustrates the property tax the city would receive based on a $100,000 property.

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Property Taxes: Where does it go?

Given a $100,000 residential property

Levy FY 17/18– 56,939 (Taxable) FY18/19-- 55,621 (Taxable) FY19/20-- 56,918 (Taxable) Levy Amount Levy Amount Levy Amount General Fund 8.10000 450.56 8.10000 450.52 8.10000 461.04 Civic Center-Gates Hall 0.135 7.69 0.135 7.51 0.135 7.68 Insurance (Tort/General) 0.55249 31.46 0.54669 30.41 0.40536 23.07 Memorial Bldg-Gates Hall 0.53000 30.18 0.53000 29.48 0.53000 30.17 Emergency (Public Safety) 0.27000 15.37 0.27000 15.02 0.27000 15.37 Employee Benefits 2.50752 142.78 2.61898 145.67 2.66469 151.67 Debt Services 1.84799 105.22 1.74233 96.91 1.92174 109.38 CIP-Trails 0.67500 38.43 0.67500 37.54 0.59121 33.65 TOTAL 14.6180 832.34 14.6180 813.06 14.6180 832.03

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SLIDE 23

Industrial/Commercial Property Example

(Assessed Value) $100,000 X (State Limitation) 90% Taxable Value $90,000 Example (Taxable Value) $90,000 X (Levy Rate) $14.618/1000 Total Property Tax Revenue $1,315.62

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Industrial/Commercial Property Impact on Cities

New rollback for commercial, industrial and railroad property

  • 95% in Assessment year 2013 (FY 2014-15 budget year)
  • 90% in Assessment Year 2014 and beyond (FY 2015-16)
  • State backfill – capped at FY 2017 per Governor’s term

ROLLBACK FIGURES

Property Class FY2020 FY2019 FY2018 FY 2017 FY 2016

Agricultural

56.1324% 54.4480% 47.4996% 46.1068% 44.7021%

Commercial

90% 90% 90% 90% 90%

Industrial

90% 90% 90% 90% 90%

Railroad

90% 90% 90% 90% 90%

Residential

56.9180% 55.6209% 56.9391% 55.6259% 55.7335%

Multi-Residential

75% 78.75% 82.5% 86.25%

NA

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Multi-Residential Property Impact on Cities

8 Year Rollback Schedule - - NO BACKFILL

Assessment Year

Fiscal Year

Rollback Percentage

100% Valuation

(Actuals)

Taxable Valuation

(Actuals)

Estimated Lost Revenue with No Backfill at the 14.618 levy rate 2015 2017 86.25% $20,896,600 $18,023,334 $42,001.40 2016 2018 82.5% $20,245,100 $16,275,063 $58,034.00 2017 2019 78.75% $20,903,500 $16,461.517 $64,932.91 2018 2020 75% $20,929,200 $15,696,900 $76,485.76 2019 2021 71.25% 2020 2022 67.5% 2021 2023 63.75% 2022 beyond 2024

Same as residential

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Fiscal Year Previous Law Taxes Paid SF 295 Current Law Taxes Paid Loss in Tax Revenue Estimated Backfill

*Based on FY19

Estimated Difference 2018-19 $4,645145 $4,329,695 ($315,450) $242,558 ($72,892) 2019-20 $4,849,078 $4,486,302 ($362,776) $242,558 ($120,218) 2020-21 $5,191,759 $4,718,071 ($473,688) $242,558 ($231,130) 2021-22 $5,458,948 $4,928,138 ($530,811) $242,558 ($288,253) 2022-23 $5,788,392 $5,180,817 ($607,575) $242,558 ($365,017) 2023-24 $6,079,461 $5,394,804 ($684,657) $242,558 ($442,099)

City Impact: 3% Cap on Growth

Because of our TIF asking our Backfill changes every year. ACTUALS FY2015: $80,872 FY2016: $267,089 FY2017: $169,904 FY2018: $254,308

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Nevada Tax Rates:

Tax Year FY 18/19 FY 17/18 FY 16/17 FY 15/16 FY 14/15 City 14.61800 14.61800 14.61800 14.61800 14.99653 School 16.81478 16.81507 16.81007 16.80944 16.75171 County 6.49739 6.39767 6.32209 6.87735 6.57879 Other 0.69468 0.67458 0.72334 0.67574 .65724 Total 38.62485 38.50532 38.4735 38.98053 38.98427 % to City 37.85% 38% 38% 37% 38%

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Slicing the Property Tax Pie

43.53% 37.85% 16.82% 1.80% School City County Other

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31% 17% 1% 30% 9% 12%

Expenditures by Department

Public Safety Public Works Health & Social Services Culture & Rec Comm & Economic Dev General Government

GENERAL FUND EXPENDITURES

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55.42 1.93 2.45 6.02 3.64 5.48 25.06

Revenue Sources

Property Taxes Licenses & Permits Use of Money/Property Intergovernmental Charges for Fees/Services Miscellaneous Transfers In

GENERAL FUND REVENUE SOURCES

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Department of Management 18/19 City Tax Rates Comparable to Nevada

City Population Total Tax Rate 1 Maquoketa 6,141 13.20436 2 Creston 7,834 14.12560 3 Algona 5,560 14.41179 4 Nevada 6,798 14.61800 5 Hiawatha 7,024 15.20171 6 Norwalk 8,945 15.40640 7 Independence 5,966 15.99992 8 Estherville 6,360 16.19718 9 Atlantic 7,112 16.86251 10 Centerville 5,528 17.47165 11 Oelwein 6,415 17.71931 12 Perry 7,702 17.86825 13 Denison 8,298 19.05348 Average 6,899 16.01078

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SLIDE 33

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General Fund

  • Police
  • Fire
  • Library
  • Parks/Rec/GH
  • Cemetery
  • Administration

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General Fund - Budget to Actual

Beginning Transfers Transfers Ending Balance Revenue In Expenditures Out Balance 2012/2013 Budget 2,405,797 805,229 3,101,656 110,500 (1,130) Actual 2,649,236 2,268,810 793,623 2,880,331 114,158 2,717,180

  • 5.69%
  • 7.14%

67,944 2013/2014 Budget 2,484,062 862,946 3,218,110 18,398 Actual 2,717,180 2,446,587 877,729 3,077,619 2,000 2,961,877

  • 1.51%
  • 4.36%

244,697 2014/2015 Budget 2,186,722 616,456 2,787,703 15,475 Actual 2,961,878 2,234,416 972,609 3,035,279 89,361 3,157,260 2.18% 8.88% 82,385 2015/2016 Budget 2,450,881 1,020,240 3,751,762 94,000 (374,641) Actual 3,157,260 2,474,907 1,116,571 3,651,640 20,000 3,077,097 .97%

  • 2.67%

(80,161) 2016/2017 Budget 2,613,908 955,116 3,670,576 (101,552) Actual 3,077,097 2,540,633 972,033 3,360,232 23,480 3,229,531

  • 2.8%
  • 8.455%

152,434 2017/2018 Budget 2,572,026 1,129,215 3,792,520 20,000 (111,279) Actual 3,229,531 2,586,453 1,065,183 3,354,988 87,783 3,438,396 .56%

  • 13.04%

208,865 2018/2019 Budget 2,661,527 1,106,878 3,834,737 (66,332) Actual 2019/2020 Budget 3,421,011 1,143,700 4,382,472 182,239 You created this PDF from an application that is not licensed to print to novaPDF printer (http://www.novapdf.com)

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Non-Activity Revenue Sources

General-Hotel/Motel Employee/Emergency Levy Local Option Tax Tax Increment Financing Road Use Tax Debt Service Capital Project Levy Grants/Reimbursements Use of Money (Interest, Rent, Misc) TOTAL 18/19 1,780,960 608,883 910,000 3,210,316 875,000 523,900 135,962 1,445,089 152,255 $9,642,365 19/20 2,386,090 836,929 901,000 1,047,310 875,000 589,591 161,608 1,362,497 205,300 $8,365,325

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SLIDE 37

Back Left to Right: Nancy Pritchard, Investigator Andrew Henderson, Ryan Hutton, Sean Seymour, Kelli Springer, Cory Morrissey Above-Front Left to Right: Sergeant Chris Brandes, PSD Ric Martinez, Cathy Jager, Director Fire/EMS Ray Reynolds, Sergeant Josh Cizmadia, Josie Bailey

Public Safety Department

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18/19 19/20 Change REVENUE 56,100 85,650 EXPENSES: Personnel Services 996,264 1,059,302 6.33% Equipment, Repairs, Utilities, 27,650 35,250 27.49% Contractual, Commodities 89,100 94,700 6.28% Capital 163,200 82,500

  • 50.55%

TOTAL $1,276,214 $1,271,752

  • .35%

Police

Revenue & Expenses

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FIRE/EMS - Revenue & Expenses

18/19 19/20 Change REVENUE 128,800 138,300 EXPENSES: Personnel Services 133,219 122,944

  • 8.36%

Supplies, Repairs, Contractual 76,605 88,055 14.95% Capital 186,000 274,800 47.74% TOTAL $395,824 $485,799 22.73%

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SLIDE 40

Library

Kathy Manternach, Amanda Bellis, Linda Wright, Sally Gran, Cindy Anderson, Shanna Speer

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Library

Revenue & Expenses

18/19 19/20 Change REVENUE 64,200 62,800 EXPENSES: Personnel Services 335,595 341,235 1.68% Repairs/Maint, Utilities 27,000 27,000 0% Contractual, Commodities, Materials 111,350 112,275 .83% Capital 10,000 5,000

  • 50%

TOTAL $483,945 $485,510 .32%

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SLIDE 42

Top Left to Right: Mike Rasmussen, Gene Fritz, Keith Tillotson and Joe Mousel Bottom Left to Right: Erin Mousel, Tim Hansen and Rhonda Maier

Parks and Recreation, Gates Hall, and Cemetery

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Parks/4 Plex/Pool - Revenue & Expenses

18/19 19/20 Change REVENUE 214,360 220,655 EXPENSES: Personnel Services 416,492 429,950 3.23% Contractual, Supplies, Services 358,700 275,675

  • 30.11%

Capital 71,500 95,500 33.56% TOTAL $846,692 $801,125

  • 5.68%

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Recreation - Revenue & Expenses

18/19 19/20 Change REVENUE 84,055 126,170 EXPENSES: Personnel Services 77,369 96,592 24.84% Supplies, Repairs, Contractual 62,450 78,150 25.14% HS BB @SCORE/Field House 500,000 500,000 TOTAL $639,819 $674,742 5.46%

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Gates Hall - Revenue & Expenses

18/19 19/20 Change REVENUE (without Levy) 44,219 37,451 EXPENSES: Personnel Services 110,062 115,768 5.18% Supplies, Repairs, Contractual 48,320 49,120 1.65% Capital 23,000 45,000 95.65% TOTAL $181,382 $209,888 15.72%

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Cemetery – Revenue & Expenses

18/19 19/20 Change REVENUE 40,100 41,300 EXPENSES: Personnel Services 80,689 83,135 3.03% Supplies, Repairs, Contractual 24,835 24,435

  • 1.63%

Capital 49,500 53,000 7.07% TOTAL $155,024 $160,570 3.58%

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SLIDE 47

Administration

Matt Mardesen, Donna Mosinski, Don Rouse, Kerin Wright, Balinda Ellsworth, Shawn Cole, and Dan Haddock

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Administrative Expenses

18/19 19/20 Change Personnel Services 161,684 244,876 42% Repairs, Maintenance, Utilities 94,600 97,500 3.07% Supplies, Repairs, Contractual 199,820 296,620 48.44% Capital 125,000 110,000

  • 13.64%

TOTAL 581,104 748,996 28.89%

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SLIDE 49

Senior Center

REVENUE General Fund EXPENSES: Personnel Maintenance & Utilities TOTAL 18/19 7,070 1,356 5,960 $7,316 19/20 7,070 1,423 5,925 $7,348

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SLIDE 50

Austin Fortsch, Doug Pratt, Mike Ackerman, Jeremy Rydl, Jamie Tendall, Dave Harrison, Dennis Mensing

Streets Department

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Streets - Revenue & Expenses

18/19 19/20 Change REVENUE 875,000 875,000 EXPENSES: Personnel Services 448,037 475,553 6.14% Repairs, Maintenance, Utilities 137,800 137,400 0% Contractual, Supplies, Services 315,675 292,675

  • 7.86%

Capital 174,900 219,000 25.22% TOTAL $1,076,412 $1,124,628 4.48%

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SLIDE 52

Water Department

Shawn Ludwig Eric McLaughlin and Ty Borton

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SLIDE 53

Water

Revenue & Expenses

18/19 19/20 Change REVENUE 2,229,827 2,232,727 EXPENSES: Personnel Services 466,734 516,276 10.62% Repairs, Fuel, Utilities 199,100 201,700 Supplies, Equip, Contracts 385,010 400,110 3.92% Capital 195,603 166,484

  • 17.49%

Debt 790,215 573,575

  • 37.77%

TOTAL $2,036,662 $1,858,145

  • 9.61%

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SLIDE 54

Harold See and Mike Neal

Wastewater Department

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SLIDE 55

Wastewater

Revenue & Expenses

18/19 19/20 Change REVENUE $1,330,228 $1,337,449 EXPENSES: Personnel Services 406,485 436,349 7.35% Repairs, Fuel, Utilities 227,300 229,321 .89% Supplies, Equip, Contracts 179,625 175,435

  • 2.38%

Capital 36,200 36,500

  • .83%

Debt 341,700 WWT Nutrient Plant Constr. 85,000 2,200,000 TOTAL $1,276,310 $3,077,605 241.13%

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Project - Expenses

Sidewalks 2017 Streets Project Railroad Project Recreation Center/Field House CBD Downtown Improvement Lincoln Highway/W 18th Street Intersection 2019 Streets/Sewer Totals 18/19 20,000 650,000 20,000 731,000 1,400,000 $ 2,821,000 19/20 20,000 500,000 2,265,000 2,010,000 $ 4,795,000

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Debt - Expenses

DuPont Debt Portion (2013 Bond) Airport Rd, Plat 6 (2013 Bond) City Hall/Library (2012B Bond) Streets Vehicle Acquisition (2014 Bond) Water Revenue (2012C Bond) 2017 Street/Utility Improve (2016 Bond) Refunded 2013 Bond (2017 Bond)

*These payments will be made by escrow

Total 18/19 425,700 249,700 785,513 163,700 576,015 2,096,600 74,300* $4,297,226 19/20 423,700 250,900 93,213 573,575 74,300* $1,415,688

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SLIDE 58

Questions or Comments?

Thank you

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