Tradition AND Progress

Transcription

1 Capital Improvement Planning Workshop Tuesday, April 25, 2017 Tradition AND Progress 1

2 City of Roanoke, Virginia General, Internal Service, Enterprise and School Funds Sherman P. Lea, Mayor Anita J. Price, Vice- Mayor William D. Bestpitch Council Michelle L. Dykstra Council Ralph E. Ferris Council Jon A. Garland Council David Trinkle Council Christopher P. Morrill City Manager Barbara A. Dameron Director of Finance

3 Budget Committee City Manager Assistant City Managers (2) Director of Finance Director of Management and Budget Budget Administrator Accounting Supervisor Assistant to the City Manager

4 Financial Advisors PFM serves as financial advisor Collaborate on debt policy impacts, debt service projections, bond sales Respond to inquiries on debt structuring and options (vehicles, etc) Support strategic planning efforts and modeling

5 City of Roanoke Priorities Assure a desirable region where judicial needs are met and citizens feel safe in their community. Enhance Roanoke s exceptional vitality as an attractive, diverse, culturally inclusive, vibrant and active city in which to live, learn, work and play. Livability Safety Economy Education Cultivate a thriving business environment and innovative workforce opportunities to ensure the prosperity of our community, recognizing our role in both the regional and global economies. Foster an environment for lifelong learning which encompasses cradle to career and beyond through shared services and community involvement. Maintain and build quality infrastructure that supports healthy residential neighborhoods, successful commercial areas, and accessible public facilities and amenities. Infrastructure Human Services Good Government Foster a caring community that utilizes an equitable, regional, and collaborative approach to encourage preventative measures, intervention services, and self-sufficiency while providing a social safety net for citizens. Provide exceptional, yet cost competitive government services that are collaborative, transparent, responsive, and innovative. 5

6 Capital Project Planning Maintain Current Capital Assets Bridge Renovation Curb, Gutter and Sidewalk Storm Drains Infrastructure Investment for Livability and Economic Development Bridge Replacement Curb, Gutter and Sidewalk Streetscape Projects Storm Drains Civic Center School Maintenance Targeted Livability Investments Parks and Recreation Master Plan Libraries Investments made within parameters of debt policy. 6

7 Debt Policy Parameters Debt service shall not exceed 10% of General Fund expenditures (City and Schools) 7.88% Net tax supported debt as a percentage of real estate, personal property and public service corporations will not exceed 4% as shown by the last preceding assessment for taxes 2.5% Debt to be retired within ten years will not be below 60% level - 69%

8 Staff workshops CIP Calendar Project managers and directors Provide project projections, funding needs, 3 rd party revenue sources City Council meetings Monthly workshops (February-May) Public input Monthly public comment Public hearing (April) Budget adoption (May)

9 Bridge Maintenance, Repair and Project Funding Current Debt Issuance Plan: FY 2017: $8,050,000 FY 2021: $11,000,000 Additional funding need of $11M identified for Main Street/ Wasena replacement in FY 2022 $440,131 annual cash funding in current operating budget Will seek revenue sharing funding Renovation Program 9

10 RCPS Additional FY Identified Capital Needs Additional $15.4M for replacement of Fallon Park Elementary School Bridge Renovation Additional $11M in FY 2022 for Main Street/Wasena bridge replacement Library Master Plan Additional $1.3M for Melrose renovation and $300,000 for Gainsboro branch upgrades Fire Facility Master Plan Station #2 Noble Avenue - $8.4M Station #8 Crystal Spring Avenue SW - $9.9M Public Works Service Center $1.2M over multiple fiscal years RCIT Project Improvements Road improvements and other project costs - $1.5M with project completion by FY

11 Debt Issuance Plan FY Project Total RCPS $ 12,700,000 $ 12,700,000 $ 5,000,000 $ 5,000,000 $ 5,000,000 $ 40,400,000 Bridge Renovation ,000,000 11,000,000 22,000,000 Library Master Plan 4,156, , ,000 5,310,000 2,399,000 13,035,000 P&R Master Plan 2,500,000 2,500,000 1,000,000 1,000,000 1,000,000 8,000,000 Civic Center 1,000,000 1,500,000 1,500,000 1,500,000 1,500,000 7,000,000 Stormwater Management 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 10,000,000 Curb, Gutter and Sidewalk 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 7,500,000 Street Scapes - 500, , , ,000 2,000,000 Fire Facility Master Plan 375,000 5,025, ,000 6,045,000 FIRE/EMS Airpacks 1,400, ,400, Center - 7,500, ,500,000 Street Improvements 700, ,000 RCIT Improvements 600, , ,500,000 Passenger Rail ,500,000 2,500,000 Fleet Capital Replacements 3,500,000 1,700,000 1,600, , ,000 8,000,000 Technology Capital 1,775,000 2,160,000 1,545, ,480,000 Total $ 32,206,000 $ 38,655,000 $ 15,145,000 $ 28,410,000 $ 28,644,000 $ 143,060,000 Debt Service % of Expenditure Budget 7.88% 8.16% 8.67% 8.10% 8.37% 11

12 Funding Sources $151,772,059 Future General Obligation Bonds $105,089,000 General Obligation Bonds $17,125,932 General Revenue $924,052 Capital Project Funds $2,745,893 Future Fed/State $6,589,939 Federal/State Funding $13,707,113 Third Party $1,150,000 Future Stormwater Rev $3,000,000 Stormwater Revenues $500,000 Future Capital Funds $940,131

13 Project Categories $151,772,059 Streets, Sidewalks, Bridges $50,980,550 Berglund Center $7,983,398 Buildings $33,118,228 Economic Development $1,241,251 Parks $16,269,262 Storm Drains $17,179,370 Schools $25,000,000

14 Total Projected Project Category/Description FY 2017 FY Expenses Buildings: 911 Center $ 1,634,298 $ 10,000,000 $ 11,634,298 Fire Facility Master Plan $ - $ 6,856,126 $ 6,856,126 Library Master Plan $ 3,581,548 $ 11,046,256 $ 14,627,804 TOTAL - Buildings $ 5,215,846 $ 27,902,382 $ 33,118,228 Economic Development Arts and Cultural Capital Contributions $ 441,570 $ 200,000 $ 641,570 Gill Memorial Building Renovation $ 599,681 $ - $ 599,681 TOTAL - Economic Development $ 1,041,251 $ 200,000 $ 1,241,251 Parks: Greenways and Trails $ 2,129,373 $ 3,574,646 $ 5,704,019 Parks and Recreation Master Plan $ 3,565,243 $ 7,000,000 $ 10,565,243 TOTAL - Parks $ 5,694,616 $ 10,574,646 $ 16,269,262 Schools: School Improvements $ 5,000,000 $ 20,000,000 $ 25,000,000 TOTAL - Schools $ 5,000,000 $ 20,000,000 $ 25,000,000 Storm Drains: Neighborhood Storm Drain Program $ 4,879,370 $ 12,300,000 $ 17,179,370 TOTAL - Storm Drains $ 4,879,370 $ 12,300,000 $ 17,179,370 Streets, Sidewalks and Bridges: Bridge Renovation/Replacement Program $ 14,367,333 $ 11,395,382 $ 25,762,715 Curb, Gutter and Sidewalk Program $ 3,647,499 $ 6,000,000 $ 9,647,499 Passenger Rail Infrastructure $ 1,500,000 $ - $ 1,500,000 Street Improvement Projects $ 4,904,000 $ 6,250,312 $ 11,154,312 Streetscape Project Improvements $ 916,024 $ 2,000,000 $ 2,916,024 TOTAL - Streets, Sidewalks and Bridges $ 25,334,856 $ 25,645,694 $ 50,980,550 Civic Center Fund: Civic (Berglund) Center Renovations $ 1,560,000 $ 6,423,398 $ 7,983,398 TOTAL - Civic Center Fund $ 1,560,000 $ 6,423,398 $ 7,983,398 GRAND TOTAL - All Funds $ 48,725,939 $ 103,046,120 $ 151,772,059

15 Monitoring Finance Accounting Supervisor, Debt Accountant, Capital Accountant, Roanoke City Public Schools (RCPS) representative, Department of Management and Budget analyst Quarterly review of Post Issuance Compliance Team Analyze quarterly spending plan Bond funding transfer review Better timing on issuance of bonds Arbitrage avoidance Certify compliance on use of bond funding during the fiscal year Advance appropriation Required 2 years of training annually

16 City of Roanoke Priorities Assure a desirable region where judicial needs are met and citizens feel safe in their community. Enhance Roanoke s exceptional vitality as an attractive, diverse, culturally inclusive, vibrant and active city in which to live, learn, work and play. Livability Safety Economy Education Cultivate a thriving business environment and innovative workforce opportunities to ensure the prosperity of our community, recognizing our role in both the regional and global economies. Foster an environment for lifelong learning which encompasses cradle to career and beyond through shared services and community involvement. Maintain and build quality infrastructure that supports healthy residential neighborhoods, successful commercial areas, and accessible public facilities and amenities. Infrastructure Human Services Good Government Foster a caring community that utilizes an equitable, regional, and collaborative approach to encourage preventative measures, intervention services, and self-sufficiency while providing a social safety net for citizens. Provide exceptional, yet cost competitive government services that are collaborative, transparent, responsive, and innovative. 16