HomeMy WebLinkAboutRes 1366 - 1997-2002 Financial Planning Model and Capital Improvement Program ,I,v.111-A,
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Resolution No. 3 cv Co
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
TUKWILA, WASHINGTON, ADOPTING THE 1997 -2002
FINANCIAL PLANNING MODEL AND THE CAPITAL
IMPROVEMENT PLAN FOR GENERAL GOVERNMENT AND
THE CITY'S ENTERPRISE FUNDS.
WHEREAS, when used in conjunction with the annual City budget, the Capital
Improvement Plan and the Financial Planning Model are resource documents to help plan
directions the City will consider for the future; and
WHEREAS, the Financial Planning Model and CIP are not permanent fixed plans but are
rather guidelines or tools to help reflect future goals and future resources at the time annual
budgets are being planned; and
WHEREAS, the 1997 -2002 Financial Planning Model is out of balance for General
Government Funds, for the period 1999 -2002 (Attachment A), and will be reconciled by the end of
1997; and
WHEREAS, the commitment of funds and resources can only be made through the annual
budget process;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF TUKWILA,
WASHINGTON, DO HEREBY RESOLVE AS FOLLOWS:
Section 1. The 1997 -2002 Financial Planning Model and accompanying Capital Improvement
Program (CIP) are hereby adopted.
Section 2. The assumptions, revenues and expenditures will be reviewed and updated
annually or as necessary by the City Council. The projected shortfall between 1999 -2002 of $3.758
million on Attachment A will be reconciled prior to the end of 1997. This will be accomplished by
a combination of operational expenditure reductions, capital reductions or resource
enhancements.
Section 3. The detail of CIP projects will be reflected in the published Financial Planning
Model and Capital Improvement Plan 1997 -2002, as summarized in the attached table of contents.
PASSED BY THE CITY COUNCIL OF T CITY OF TUK ILA, WASHINGTON, at a
regular meeting thereof this Z. N day of 1996.
__.(22-.).„) el...bee..0
Pam Carter, Council President
ATTEST/AUTHENTICATED:
(1 1 1 -C-- r r_t_.-2,____,._
Ja e E. Cantu, City Clerk
APPROVE TO FORM:
Office othe`City A rney
Filed with the ity Clerk: .2 7 91.
Passed by the City Council: /2 9-C.
Resolution Number /3 4 6
ATTACHMENT A
CITY OF TUKWILA
TOTAL REVENUES EXPENDITURES
1997 -2002 Analysis in 000's
REVENUES 1 1997 1998 1999 2000 2001 2002 Totals
General Revenues
Sales Tax 14,000 14,700 15,435 16,206 17,016 17,866 95,223
Property Tax 7,180 7,297 7,480 7,709 8,110 8,430 46,201
Charges /Fees for Service 1,373 1,441 1,513 1,588 1,668 1,751 9,334
Oper. Trans In-Other Funds 1,300 1,365 1,433 1,504 1,580 1,659 8,841
Intergovernmental Revenue 1,059 988 1,032 979 1,028 1,080 6,166
Other Taxes /Misc. 1,251 1,313 1,379 1,448 1,520 1,597 8,508
Beg. Fund Balance 4,207 300 350 400 450 500 6,207
Subtotal 30,370 27,399 28,622 29,834 31,372 32,883 180,480
Dedicated Revenues (Capital),
Real Estate Tax 160 200 250 250 250 250 1,360
Motor Vehicle Taxes 456 500 525 550 575 600 3,206
Interest Income 402 300 300 300 300 300 1,902
Property Tax 55 130 130 130 130 130 705
Repayment from Utilities 0 0 500 500 500 400 1,900
Subtotal 1,073 1,130 1,705 1,730 1,755 1,680 9,073
TOTAL AVAILABLE 31,443 28,529 30,327 31,564 33,127 34,563 189,553
See Attachment A -1.
EXPENDITURES I
Oper. Maintenance 23,744 24,617 25,737 27,023 28,372 29,727 159,220
See Attachment B
Subtotal Available 7,699 3,912 4,590 4,541 4,755 4,836 30,333
Capital Attachment C
Neighborhood Revitalization
Residential Streets 1,730 1,250 650 1,590 1,915 1,325 8,460
Parks Trails 965 75 250 250 330 0 1,870
General Government
Facilities 250 0 0 130 130 130 640
General Government 845 350 300 300 300 300 2,395
Economic Development
Bridges 746 200 450 250 250 250 2,146
Artertial Streets 1,376 944 2,302 1,854 1,387 2,435 10,298
Debt Service Bonds (Comm Ctr) 515 515 515 515 515 515 3,090
Admin /Engineering Overhead 892 900 850 850 850 850 5,192
Remaining Rev. Year by Year 380 (322) (727) (1,198) (922) (969) (3,758)
Accumulated Totals 380 58 (669) (1,867) (2,789) (3,758) 1 I
Note:
The deficit of $3.758 million by the
year 2002 will be reviewed during
1997 and balanced by reducing expenditures
or through resource enhancements.