HomeMy WebLinkAboutFS 2016-02-02 Item 2F - Update - Financial Planning Model - Attachment ATO:
FROM:
DATE:
SUBJECT:
Ci!Z of Tukwila
Allan Ekberg, Mayor
Mayor Ekberg
Finance & Safety Committee
Peggy McCarthy, Finance Director
January 27,2O1G
Update Attachment Atm the Financial Planning Model
ISSUE
Update Attachment A to the Financial Planning K8ndB| to reflect the 2015-2018 mid-biennium
budget amendments and the 2O15 estimated final financial results.
BACKGROUND
The Council has requested an updated Attachment A R#|8CtiDg the financial impact Of the 2O15-
2016 budget mid-biennium budget amendments.
DISCUSSION
The updated Attachment A assumes or reflects the following:
1. Sales Tax
a. Budget amendment - Sales tax was increased in 2015 by $1.7 million and in 2016
by $| nniUiOO.
b. Projections ' 2017 reflects no increase in S88S tax relative to 2016; 2018-2020
revenues are increased by 3% consistent with the original projections.
2. Onetime revenue
8. BUdgetamondment -
nernmrd of the
postponement of the
thousand transfer int
System (RMS).
One time revenue is [8dUC8d by $1 million to reflect the
Tukwila Village land Sa|8 and by $200.000 to reflect the
former Fire Station 53 sale. It is increased by the $350
> the General Fund for the Police Records Management
3. Dedicated revenues
a. Projections — dedicated revenues for 2015 are increased to reflect an actual
increase over budget in REET revenue of $1.8 million.
4. Operating &Maintenance
a. Budget amendment — the 2015 departmental budget amendments assumed any
increases in departmental expenditures would be offset by decreases in other
departments thus having OO net effect onthe General Fund ending balance. The
2015 preliminary financial statements support this assumption; additional cost has
not been added. The same assumption has been made for 2O1O; additional costs
for operations have not been added. However, additional costs for the PO|iC8
initiatives has been added — see below.
b. Budget amendment — the 2U15 $137 thousand added to the Police budget for the
Police Records Management System was not spent in 2015; it has been added to
2010 and iS included inthe $82O thousand adjustment — with $62O thousand for
the RMS and $20O thousand for the City's C{}Ps grant match.
INFORMATIONAL MEMO
Page 2
o. Projections — the 2017-2020 p jecdonainc|udeadditiona|coatsfortheRMGand
for the COPS grant which expires in 2019.
5. Capital Projects
G. Budget amendrnmniS — The COat of the new initiatives have been added to the
model, GSfollows:
0 $174 thousand for 53m Avenue improvements
m $8O thousand for the City's match on the bridge improvement grants
* $SO thousand for the City's match On the new safe routes to school grant
* $4OO thousand for St[oDdor Blvd extension
The financial result based on these adjustments is to increase the combined ending fund balance,
exclusive Of the reserve fund balance, by$1.O million sd the end Of the six year projection period.
RECOMMENDATION
Information only.
ATTACHMENT
Updated Attachment A of the Financial Planning Model as of 1.27.16
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CITY OF TUKWILA
ATTACHMENT A - REVENUES AND EXPENDITURES GOVERNMENTAL FUNDS
2015 -2020 Analysis in 000's Revised for Budget Amendments
REVENUES
2015 other
ORIGINAL -- Budget Amendments -- Adiust- 2015
BUDGET Aug' 15 Nov '15 meat Adjusted
2016 2016
ORIGINAL Budget Amendment- Adjusted
BUDGET Nov' 15 Budget
PROJECTIONS
TOTAL
2Q17 2018
2019 2020
S 17,034 $ 422 5 1,700 5 19,156
14,329 14,329
4 ,025 4,025
1,856 1,856
3;236 3,236
1,821 1,821
2,105 150 2,255
2,212 2,212
2,503 347 2,850
- _. 2,976
2,255 Pt 2,255
2,400 (850) 1,550
$ 17,631 $ 1,000 $ 18,631
14,759 14,759
4,105 4,105
1,981 1,981
3,117 3,317
1,875 1,875
2,166 2,166
2,267 2,267
2,585 2,585
2.991 2,991
2,233 _ 2,233
3,675 (1,600) 2,075
, 01 B °220
1 9,12s 15,506
2,187 4,292
2,089 2,184
3,416 3,519
I 2122 2,97;)
2,232 2,301
2,335 2,405
2,614 2,643
1,05 i 3,173
2,358
4 19797 $ 2I)31(
15,894 6291
4,421 4,553
2,293 2,408
3,624 3,733
2,019 2,070
2,374 2,449
2,477 2,552
2,673 ,704
3,2W 3:67
2,429 2,502
$ 115,855
91,908
25,583
12,802
20,847
11,677
13,776
14,249
16,068
18,857
14,066
3,625
General Revenues
Sales and Use Taxes
Property Taxes
Utility Taxes
Interfund Utility Tax
Gambling and Other Taxes
RGRL
Licenses & Permits
SCL Agreement
Intergovernmental
Charges for Services
Indirect Cost Allocation
One -Time Revenue
59,586 (600) 58,986
980 980
57,945 59,571
1,010 1,040
61,270 63,019
1,067 1,099
359,313
7,962
Sub -Total
Dedicated Revenues
56,732 940 850 58,522
967 1,800 2,767
TOTAL REVENUES
57,699 940 850 1,800 61,289
60,566 (600) - 59,966
58,955 60,611
62,337 64,118
367,275
EXPENDITURES
52,609 820 initiatives 53,429
RMS, COPS
3,303 (428) 2,875
- 100 100
300 300
567 567
54,494 55,606
3,507 3,499
91
308 315
581 596
56988 58,155
3,493 2,669
163 170
323 331
610 626
331,182
18,803
623
1,877
3,525
Operating & Maintenance
(see Attachment B)
Debt Service
Reserve Fund
Operating Transfers
Adm /Engineering
51,569 940 - initiatives 52,509
RMS
2,760 2,760
100 100
300 300
545 545
3,787 (1,092) 2,695
141 90 Safe Routes 231
3,411 400 +Strander 52M 3,811
182 -$1.6M Longacres 182
90 90
200 200
65 504
504
413 750
2,118 2,883
172 166
- -
200 200
759 2,167
750 750
2,263 2,273
321 162
- -
200 200
11,265
4,682
15,456
1,986
20
1,200
Subtotal Available
Capital Projects
Residential Street
Arterial Street
Land & Park Acquisition
Governmental
Facilities
General Government
2,525 750 5,075
5,075
1,614 174 53rd, safe routes 1,788
2,022 86 bridges 2,106
983 983
(70) (70)
200 200
Sub -Total Capital
4,749 260 - - - 5,009
4,024 490 4,514
2,903 3,999
3,534 3,385
23,344
Change'in Fund Balance
Beginning Fund Balance
(2,224) (260) 750 66
14,905 474 15,379
(237) (1,582) (1,819) (2,838) (3,495)
12,681 2,764 15,445 13,626 10,788
(2,775) (1,218)
7,293 4,518
(12,079)
14,905
$ 12,444 $ 1,182 $ 13,626 $ 10,788 $ 7,293
$ 4,518 $ 3,300
$ 3,300
Ending Fund Balance
$ 12,681 $ 214 $ - $ 750 $ - $ 15,445
Reserve Fund Balance
$ 5,702 S 98 5 (250) $ 5,550
5 5,704 $ 100 $ 5,804
$ 5,704 $ 5,795
$ 5,957 $ 6,127
$ 6,127
$ 18,148 $ 1,282 $ 19,430
$ 16,491 $ 13,087
$ 10,475 $ 9,427
$ 9,427
TOTAL FUND BALANCE
S 18,383 5 312 $ - 5 500 $ - 5 20,995
In 2015, assumes the additional budget for Police, Fire and other departments, for operations and initiatives, for 2015, represents revenue reduction of $1M for postponement of Tukwila Village and sale and 5200K
will be offset by overall departmental budgetary savings. In 2016, assumes the additional budget for Police, for postponement of the former Fire Station 53 sale and a revenue increase of $350K from a transfer into the
Fire and other department operations will be offset by overall departmental budgetary savings but that General Fund from the Contingency Fund for the Police RMS records system.
ending fund balance will be used to fund the initiatives. For 2016, represents postponement of Longacres land sale.
Total each year has been increased to reflect the City's share of the new COPS grant and the Police Records Management System costs.
1/27/2016