PROPOSED 2019 OPERATING AND CAPITAL BUDGETS District of West - - PowerPoint PPT Presentation

District of West Vancouver Regular Council Meeting

PROPOSED 2019 OPERATING AND CAPITAL BUDGETS

March 11, 2019

Presentation Outline

2

• 1. Shifts in Assessments
• 2. 2019 Capital Budget
• 3. 2019 Operating Budget
• 4. Budget Survey Results

PROPOSED 2019 OPERATING & CAPITAL BUDGETS

Presentation Outline

PROPOSED 2019 OPERATING & CAPITAL BUDGETS

Shifts in Assessments

Assessment Shifts in West Vancouver

PROPOSED 2019 OPERATING & CAPITAL BUDGETS

Assessment Change = -15%

Average

Assessment Change = -9.4% Assessment Change = -5%

Above Average

This chart references the arithmetic mean average, as this is the point of 0% tax shift.

Change in Assessment 2018 Assessment 2019 Assessment Tax Shift Municipal Tax Below Average

• 15%

$3,411,765 $2,900,000

• $261

$3,947 Average

• 9.4%

$3,200,000 $2,900,000 $0 $3,947 Above Average

• 5%

$3,052,632 $2,900,000 $182 $3,947

PROPOSED 2019 OPERATING & CAPITAL BUDGETS

2018 Heat Map

PROPOSED 2019 OPERATING & CAPITAL BUDGETS

2019 Heat Map

PROPOSED 2019 OPERATING & CAPITAL BUDGETS

2019 Capital Budget

2019 Twenty Year Lifecycle Replacement and Maintenance

PROPOSED 2019 OPERATING & CAPITAL BUDGETS

Asset Levy Groundwork

PROPOSED 2019 OPERATING & CAPITAL BUDGETS

1.76%

*

* Includes transfer from operations budget

PROPOSED 2019 OPERATING & CAPITAL BUDGETS

Five Year Projection

Requirements for Funds

PROPOSED 2019 OPERATING & CAPITAL BUDGETS

2019 Preliminary Capital Budget

PROPOSED 2019 OPERATING & CAPITAL BUDGETS

Asset Levy – Next Steps

− increase asset levy funding to maintenance level − develop “catch up” strategies − take action on options for “high use, poor condition” assets − apply framework for evaluating new assets in 2019 budget decision-making process − incorporate risk information into asset management modelling to manage risk

PROPOSED 2019 OPERATING & CAPITAL BUDGETS

2019 Operating Budget

PROPOSED 2019 OPERATING & CAPITAL BUDGETS

Factors affecting the 2019 operating budget:



Employer Health Tax



Ice Arena season extension



revenue reductions in Parks, Culture & Community Services



interest revenue

2019 Operating Budget

2019 Preliminary Operating Budget

PROPOSED 2019 OPERATING & CAPITAL BUDGETS

Operational increases

Labour: contract, reclass, fringe, savings $ 1,439,600 2.06% Labour: Employer Health Tax $ 1,238,900 1.77% Critical operating items $ 682,400 0.97% Increased NSEM budget $ 17,000 0.02% Ice Arena - season extension $ 40,000 0.06% Change in PCCS revenue $ 315,000 0.45% PCCS mitigation efforts $ (52,000)

• 0.07%

$ 3,680,900 5.26%

Operational savings

Fees and charges $ (104,600)

• 0.15%

Incremental investment income $ (1,295,300)

• 1.85%

Savings on bank fees $ (10,000)

• 0.01%

$ (1,409,900)

• 2.01%

Sub-total

$ 2,271,000 3.24%

Transfer to Capital

$ 267,100 0.38%

New Construction

Based on estimate from BC Assessment $ (1,004,000)

• 1.43%

Total

$ 1,534,100 2.19%

Proposed Increase

PROPOSED 2019 OPERATING & CAPITAL BUDGETS

*Asset levy based on a 1 year period to close the asset maintenance funding gap (1.76% rate increase)

Property with median assessment value = $2.5M 2018 Taxes & Fees Proposed 2019 Taxes & Fees Y:Y Change Proposed Rate Increase Operational Levy $3,083 $3,151 $68 2.19% Asset Levy* $49 $54 $5 1.76% Water $632 $695 $63 10% Sanitary/Storm Sewers $939 $1,041 $102 11% Solid Waste $243 $241 ($2)

• 1%

Total Impact to Median Household $4,946 $5,182 $236 4.78%

PROPOSED 2019 OPERATING & CAPITAL BUDGETS

Budget Survey Results

2019 Budget Survey Results

2019 Budget Survey Results Support for CAC Funding

Project Requested Amount Yes: Support No : Do Not Support No Opinion

Navvy Jack Nature House $2,050,000 50.9% 36.4% 12.7% Ferry Building Gallery $1M in 2019 & $1M in 2020 48.3% 37.4% 14.4% Library Infrastructure $706,000 79.2% 13.9% 6.90% Memorial Park Ramp $75,000 46.0% 34.5% 19.5% Garrow Bay Trail Stairs $57,000 52.3% 32.4% 15.3% Civic Site Great Lawn Fencing $45,000 39.7% 46.6% 13.7% Rutledge Field Stairs $25,000 51.7% 32.8% 15.5% Lighthouse Park Accessibility $10,000 74.4% 12.5% 13.1% Strong Support Weak Support Split Support Not Supported

PROPOSED 2019 OPERATING & CAPITAL BUDGETS

19

Staff Recommendations

• 1. Asset levy increase of 1.76%
• 2. Operating budget increase of 2.19%
• 3. Amenity project contribution of $798,000

for the following projects:

Library Infrastructure $706,000 Garrow Bay Trail Stairs $57,000 Rutledge Field Stairs $25,000 Lighthouse Park Accessibility $10,000

PROPOSED 2019 OPERATING & CAPITAL BUDGETS

• 1. That the asset levy increase of 1.76% and operating

budget increase of 2.19% be approved.

• 2. The provision of funding for the following projects,

totalling $92,000 be approved:

• 3. That provision of the remaining $706,000 for the Library

Infrastructure project be deferred and re-evaluated in the context of other capital infrastructure projects.

Finance Committee Recommendations

Garrow Bay Trail Stairs $57,000 Rutledge Field Stairs $25,000 Lighthouse Park Accessibility $10,000

Questions?

PROPOSED 2019 OPERATING & CAPITAL BUDGETS