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January 7, 2011 - PowerPoint PPT Presentation

January 7, 2011 1


  1. ����� �� ������ �������������� ������������ January 7, 2011 1

  2. ������������� ������������������ ����� �� ������� | January 7, 2011 ������ ���������� Toby LaFrance Finance and Information S ion Services Director Debbie Smith-Wagar Assistant Finance Director ctor Pat Clancy Financial Advisor, WFG

  3. ������������� ������������������ ����� �� ������� | January 7, 2011 ������ ��������������������� Overview of City Park System and Projects City Finances Economics and Demograph Economics and Demograph raphics raphics Water System CIP The Bonds

  4. ������������� ������������������ ����� �� ������� | January 7, 2011 ������ ������������������� Incorporated in 1961 Encompasses almost 12 sq 2 square miles Estimated population of 47 of 47,460 Located in Washington Cou Located in Washington Cou County County Fifteen minutes from down owntown Portland Located along I-5, Highway way 217 and Pacific Highway Neighboring cities: Beaver averton, Lake Oswego, Tualatin and Portland

  5. ������������� ������������������ ����� �� ������� | January 7, 2011 ������

  6. ������������� ������������������ ����� �� ������� | January 7, 2011 �����$ ������������ ����!�"���� �"�������#�� The Tigard Park System Ma Master Plan Update (TPSMP): – Inventoried existing fac facilities – Underwent a year-long – Underwent a year-long ong public involvement process ong public involvement process – Summarized a needs an s analysis for Tigard Parks – Developed a planning a ng and implementation framework The TPSMP was adopted Ju ed July 2009

  7. ������������� ������������������ ����� �� ������� | January 7, 2011 �����% ������������ ����!�"���� �"�������#�� Identifies $80 million dollar ollars in capital improvement projects Over $20 million priority on Over $20 million priority on y one projects listed y one projects listed Projects include park land nd acquisitions and development Open space land acquisition itions were identified as opportunistic acquisitions

  8. ������������� ������������������ ����� �� ������� | January 7, 2011 �����& ������� ����� ����!� "������ �#��

  9. ������������� ������������������ ����� �� ������� | January 7, 2011 �����/ ���'��������(��)*�������� ������+��,--��.���� $17 million of general oblig obligation bonds authorized at the November 2010 election At least 80 percent toward ard land acquisition for open spaces, parks or trail corridors parks or trail corridors Up to 20 percent toward im rd improvements and development of park land Up to $1.7 million may be be spent for a downtown area park $2.5 million in Parks SDCs e Cs expected to be contributed to these projects

  10. ������������� ������������������ ����� �� ������� | January 7, 2011 �����-, ���'��������(��)*�������� ������+��,--��.���� City has agreements in pla place to purchase community parks: – $5.0 mil 43-acre site, inc , including $3.0 mil intergovernmental – $1.4 mil five-acre site fo te for needed development adjacent to 43-acre site – $5.0 mil 20-acre site – $5.0 mil 20-acre site – $0.6 mil Dog Park Over the next year, Park an and Recreation Advisory Board to identify and recommend additi dditional properties to purchase and develop

  11. ������������� ������������������ ����� �� ������� | January 7, 2011 �����-- �����)��������0 )1��,-, ,-, Operating Fines and Charges Charges City-wide revenues General Fund revenues grants and forfeitures for service for service contributions $915,524 $3,583,366 Capital grants $1,286,411 Interest $199,506 and $299,885 Franchise fees contributions $4,548,520 $305,398 Other $11,918,649 Taxes $11,935,841 $11,935,841 Intergovnt'l Intergovnt'l Taxes $5,819,081 $16,070,846 Interest $308,853 Capital Administration Interest on long- Administration General Fund expenses City-wide expenses outlay term debt $1,511,956 $787,209 $292,221 $548,987 Community Community development development $3,555,391 $4,846,494 Public works $5,129,767 Community Public works Community $8,563,893 services services $19,832,642 $18,870,804

  12. ������������� ������������������ ����� �� ������� | January 7, 2011 �����-� �����)������� General Fund ending balance as ce as of June 30, 2010 was $7.3 million (26 percent of nt of expenditures) GF ending balance for June 30, 30, 2011 is projected at $7.7 million This includes about $1 million o This includes about $1 million o ion of one- time resources ion of one- time resources GF ending balance policy: 2 unallocated fund balance of ce of at least 2 months of operating expenses, and 2 adequate fund balance to p to provide sufficient cashflow from July 1 until property taxes xes are received in November

  13. ������������� ������������������ ����� �� ������� | January 7, 2011 �����-� �����)��������3���4�5 Revenues flat the last two years ears after significant growth in the prior five years Conservative approach to finan inancial operations: GF fund balance grew from $7.9 million at end o grew from $7.9 million at end o nd of FY 2003 to $10.8 million at end of nd of FY 2003 to $10.8 million at end of FY 2008 In the last two years the City ha y has purposely used fund balance to help reduce cuts to City service rvices Targeted cuts in personnel and and materials and services made in FY 2010 Service levels balanced against inst available resources for FY 2012 budget

  14. ������������� ������������������ ����� �� ������� | January 7, 2011 �����-� 6�����(��6���#� Tigard has very low debt le bt levels: 2 $26 million of un f unlimited tax GO 2 2 $8.3 million full f $8.3 million full f ull faith & credit obligations paid from ull faith & credit obligations paid from installment contr ontracts, gas taxes or park SDCs

  15. ������������� ������������������ ����� �� ������� | January 7, 2011 �����-� ��7�(#�����������8�#*� �#*� History of growing taxable assessed value; rati ratio of AV to RMV is 69 percent

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