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Home My WebLink AboutReg 2013-12-02 Item 6B - Resolution - 2014-2019 Financial Planning Model / Capital Improvement ProgramCOUNCIL AGENDA SYNOPSIS Meeting Date Prep area' by Ma '-'s re vie It Council , enjoy 11/12/13 PMC CATEGORY Discussion Alts Date 11/12/13 Motion i 1 4 ig Date 12/02/13 PMC Z Public Hearing All,g Date 11/12/13 1 1 01 her 3Lg Date Resolution Mtg Date 12/02/13 SPONSOR 1 1 Council 1 Mayor 1 I HR IT 1 1 Re'R 1 1 Po/e — P11" 1 1 DCD Finance I 1 1-7re SPONSOR'S The City Council is being asked to approve a resolution adopting the 2014-2019 Financial SUMMARY Planning Model and Capital Improvement Program. This item is scheduled for a Public Hearing and Council discussion at the November 12, 2013 Committee of the Whole Meeting and consideration at the December 2, 2013 Regular Meeting. Rim kwiq) ID COW Mtg. CA&P Cmte ] Utilities Cmte 7 Arts Comm. DATE: 11/05/13 n F&S Cmte ITEM INFORMATION ITEM No. 6.B. 229 STAFF SPONSOR: PEGGY MCCARTHY ORIGINAL AG INDA DX1E: 11/12/13 AC;ENDA ITLM TITLE An Resolution adopting Improvement Program. the 2014-2019 Financial Planning Model and Capital CATEGORY Discussion Alts Date 11/12/13 Motion i 1 4 ig Date Ordinance Mtg Date 1 1131d Aniara Mtg Date Z Public Hearing All,g Date 11/12/13 1 1 01 her 3Lg Date Resolution Mtg Date 12/02/13 SPONSOR 1 1 Council 1 Mayor 1 I HR IT 1 1 Re'R 1 1 Po/e — P11" 1 1 DCD Finance I 1 1-7re SPONSOR'S The City Council is being asked to approve a resolution adopting the 2014-2019 Financial SUMMARY Planning Model and Capital Improvement Program. This item is scheduled for a Public Hearing and Council discussion at the November 12, 2013 Committee of the Whole Meeting and consideration at the December 2, 2013 Regular Meeting. Rim kwiq) ID COW Mtg. CA&P Cmte ] Utilities Cmte 7 Arts Comm. DATE: 11/05/13 n F&S Cmte 1 fransportation Cmte Comm. 1 Planning Comm. CHAIR: ROBERTSON 1 1 Parks COMMUTEE RECOMMENDATIONS: SPoNseR/ADmIN. COMMITTEE Finance Department Unanimous Approval; Forward to Committee of the Whole COST IMPACT / FUND SOURCE EXPINDITURI RI-,UIRIM AMOUNT BUDGETED APPROPRIATION REQUIRED $ $ $ Fund Source: MISCELLANEOUS FUNDING SOURCES, SEE DETAIL Coinments: MTG. DATE RECORD OF COUNCIL ACTION 11/12/13 Forward to Regular Meeting MTG. DATE ATTACHMENTS 11/12/13 Informational Memorandum dated 10/15/13 with attachments Draft Resolution Revisions to Draft CIP Minutes from the Finance & Safety Committee Meeting of 11/05/13 12/02/13 Resolution in final form 229 230 City of Tukwila Washington Resolution No. A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TUKWILA, WASHINGTON, ADOPTING THE 2014-2019 FINANCIAL PLANNING MODEL AND THE CAPITAL IMPROVEMENT PROGRAM FOR GENERAL GOVERNMENT AND THE CITY'S ENTERPRISE FUNDS. WHEREAS, when used in conjunction with the biennial City budget, the Capital Improvement Program (CIP) and the Financial Planning Model for the period 2014-2019 are resource documents to help plan directions the City will consider for the future; and WHEREAS, the Financial Planning Model and Capital Improvement Program are not permanent fixed plans, but are guidelines or tools to help reflect future goals and future resources at the time budgets are being planned; and WHEREAS, the commitment of funds and resources can only be made through the budget process; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF TUKWILA, WASHINGTON, HEREBY RESOLVES AS FOLLOWS: Section 1. The City Council hereby adopts the 2014-2019 Financial Planning Model and accompanying Capital Improvement Program, incorporated by this reference as if fully set forth herein. Section 2. A copy of the 2014-2019 Financial Planning Model and accompanying Capital Improvement Program shall be kept on file in the City Clerk's Office. Section 3. The assumptions, revenues and expenditures will be reviewed and updated biennially, or as necessary, by the City Council. Section 4. The detail of Capital Improvement Program projects will be reflected in the published Financial Planning Model and Capital Improvement Program 2014-2019. W:\Word Processing-CityResolutionsTinancial Planning Model & CIP 10-28-13 PM:bjs Page 1 of 2 231 PASSED BY THE CITY COUNCIL OF THE CITY OF TUKWILA, WASHINGTON, at a Regular Meeting thereof this day of , 2013. ATTEST/AUTHENTICATED: Christy O'Flaherty, MMC, City Clerk Kathy Hougardy, Council President APPROVED AS TO FORM BY: Shelley M. Kerslake, City Attorney Filed with the City Clerk: Passed by the City Council: Resolution Number: Attachment: Financial Planning Model and Capital Improvement Program 2014-2019 W:\Word Processing-City\Resolutions\Financial Planning Model & CIP 10-28-13 PM:bjs 232 Page 2 of 2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 30 31 32 33 CITY OF TUKWILA ATTACHMENT A REVENUES & EXPENDITURES GOVERNMENTAL FUNDS 2014 - 2019 Analysis in 000's Reserve fund balance $ 1,458 $ 1,458 3,000 $ 5,203 $ 5,206 $ 5,325 $ 5,470 $ 5,620 $ 5,620 r6! Sales and Use Taxes - includes retail sales and use tax, natural gas use tax and criminal justice sales tax Gambling and other taxes - includes gambling tax, admission tax and leasehold excise tax Licenses & permits - includes business licenses, residential rental licenses, building and other permits Intergovernmental - includes streamlined sales tax mitigation, grants, state shared revenues and entitlements Dedicated Revenues (Capital) - includes REET, Greenbelt property tax levy, parking tax, motor vehicle tax, investment income earned in the capital funds One -time revenue - represents the LID bond proceeds in 2013 and sale of land currently used for storage by utility funds in 2016 Arterial Street - 2014 and 2015 net revenue derives from Tukwila Village; 2016 and 2017 net revenue derives from urban renewal property sales. 0844 nn +n 2 3, ,nn,nn• ------------- - = - - -- 6 Year Plan ---- ---_-_-_---------- REVENUES (See A -1) HISTORICAL ESTIMATES PROJECTIONS Totals 2014 -2019 2010 2011 2012 fi 2013 2014 2015 2016 2017 2018 2019 General Revenues Sales and Use Taxes $ 15,609 $ 16,114 $ 15,674 $ 16,299 $ 16,770 $ 17,263 $ 17,771 $ 18,293 $ 18,832 $ 19,386 $ 108,315 Property Taxes 13,189 13,427 13,830 13,814 14,160 14,514 14,876 15,248 15,630 16,020 90,448 Utility Taxes 4,064 4,052 4,001 4,018 4,087 4,169 4,252 4,338 4,424 4,513 25,784 Interfund Utility Tax 1,498 1,372 1,535 1,486 1,586 1,665 1,748 1,835 1,927 2,024 10,784 Gambling and other taxes 2,693 2,038 3,045 2,709 2,819 2,876 2,933 2,992 3,052 3,113 17,785 RGRL - 1,641 1,756 1,750 1,768 1,812 1,857 1,903 1,951 2,000 11,290 Licenses & permits 1,619 1,833 1,605 1,867 1,896 1,949 2,004 2,060 2,118 2,178 12,206 SCL Agreement 2,071 2,110 2,147 2,206 2,250 2,307 2,364 2,424 2,484 2,546 14,375 Intergovernmental 2,405 2,646 2,663 2,545 2,102 2,121 2,141 2,161 2,181 2,202 12,907 Charges for Services 2,471 2,614 2,438 2,954 3,036 3,127 3,221 3,317 3,417 3,519 19,637 Indirect cost allocation 1,696 1,903 1,775 2,036 2,085 2,137 2,191 2,246 2,302 2,359 13,320 One -time revenue - - - 8,500 - 1,500 1,500 Sub -total 47,314 49,751 50,468 60,185 52,559 53,939 56,859 56,818 58,317 59,860 338,351 Dedicated Revenues (Capital) 1,045 1,024 1,613 900 857 882 909 936 964 993 5,540 TOTAL REVENUES 48,359 50,775 52,082 61,085 53,415 54,822 57,767 57,753 59,282 60,853 343,892 EXPENDITURES Operating & Maintenance (see Attachment B) 44,740 43,701 45,291 47,742 48,524 50,312 51,570 52,859 54,180 55,534 312,979 Debt Service 2,307 2,569 3,075 5,964 3,426 3,414 3,187 3,189 3,183 3,322 19,722 Reserve Fund - 566 - 1,500 2,200 3 119 146 150 150 2,768 Operating transfers 160 1,078 225 ' 475 675 323 329 316 283 283 2,209 Adm /Engineering 552 516 641 414 429 440 451 463 474 474 2,731 Subtotal Available 600 2,344 2,849 4,990 (1,839) 329 2,111 780 1,011 1,090 3,482 Capital Projects (Attachment C) Residential Street 300 0 108 # 276 625 3,221 100 100 750 750 5,546 Arterial Street 294 6,089 7,668 3,713 1,958 5,733 2,028 2,118 2,208 2,263 16,308 Land & Park Acquisition 272 98 938 (1) 716 117 42 37 41 71 1,024 Governmental Facilities 13 9 - 15 245 (3,170) (1,320) (2,695) (1,700) - - (8,885) General Government 517 830 667 303 200 200 200 200 200 200 1,200 Fire Improvements - (158) (34) (80) (50) (50) (50) (50) (50) (50) (300) Sub total Capital 1,396 6,869 9,362 4,456 279 7,901 (375) 705 3,149 3,234 14,893 Change in fund balance (796) (4,524) (6,512) 534 (2,118) (7,572) 2,486 75 (2,138) (2,144) (11,411) Beginning fund balance 26,759 25,963 21,439 14,926 15,460 13,341 5,769 8,256 8,331 6,193 15,460 Ending Fund Balance $ 25,963 $ 21,439 $ 14,927 $ 15,460 $ 13,341 $ 5,769 $ 8,256 $ 8,331 $ 6,193 $ 4,049 $ 4,049 Reserve fund balance $ 1,458 $ 1,458 3,000 $ 5,203 $ 5,206 $ 5,325 $ 5,470 $ 5,620 $ 5,620 r6! Sales and Use Taxes - includes retail sales and use tax, natural gas use tax and criminal justice sales tax Gambling and other taxes - includes gambling tax, admission tax and leasehold excise tax Licenses & permits - includes business licenses, residential rental licenses, building and other permits Intergovernmental - includes streamlined sales tax mitigation, grants, state shared revenues and entitlements Dedicated Revenues (Capital) - includes REET, Greenbelt property tax levy, parking tax, motor vehicle tax, investment income earned in the capital funds One -time revenue - represents the LID bond proceeds in 2013 and sale of land currently used for storage by utility funds in 2016 Arterial Street - 2014 and 2015 net revenue derives from Tukwila Village; 2016 and 2017 net revenue derives from urban renewal property sales. 0844 nn +n 2 3, ,nn,nn• CITY OF TUKWILA ATTACHMENT A DEBT SERVICE 2014 - 2019 Analysis in 000's - 6YearPlan Operating Transfer: DEBT SERVICE LTGO 2003 Use of Debt Proceeds ESTIMATES PROJECTIONS 2013 2014 2015 2016 2017 2018 2019 TOTAL 2014 -2019 LTGO 2003 Refunding LTGO 2008 Refunding LTGO 2010 LTGO 2011 Refunding SCORE 2009 Valley Com 2010 Refunding LTGO 2014, proposed LTGO 2014, proposed Golf course club house Community center and Fire station #53 `ICC Fire Statir?n 953 City Hall Annex, 6300 bldg, and Urban revitalization - Tukwila Village; 12 /1/2019 City I Ir'.rll Annex, 5300 bldg; 1 ukri•rla Southcenter Parkway Extension, emergency management; 12/1/2024 (a) n5:.r 1::rxrrargency ManageuFent Arterial street portion of 2003 bond -- South Park bridge transaction; 12 /1/2023 South County Corretional Entity, SCORE Jail facility; 1/1/2039 Valley Communications Center operating facility Arterial Street Projects, 2024 Interurban Ave South, 5,13,465M I3t>r malt, Access Road bridge, 32.551 Pedestrian 1yrscict;e 51.6621v1 Urban Renewal $ 3,380 $ - 491 488 392 391 48 737 812 33'7 405 31)3 447 518 518 168 548 430 431 241 229 400 811 811 365 365 34)> 440 520 520 '381 .451 139 39 546 548 431 431 229 477 477 277 777 2.1))) 200 400 400 809 809 364 364 445 445 520 519 1390 ] 45 552 549 431 429 477 477 277 277 200 400 400 811 365 449 520 ;t81 i3r 552 429 477 277 200 533 488 4,863 2,188 2,675 3,117 2,286 3,295 2,582 458 2,386 1,383 1,000 2,533 TOTAL Estimate / Projections $ 5,964 $ 3,426 $3,414 $ 3,187 $ 3,189 $ 3,183 $ 3,322 $ 19,722 (a) Amount is net of tax credit. 234