FY2019 Annual Operating Budget Work Underway. Presentation To Town Council May 8, 2018

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1 FY2019 Annual Operating Budget Work Underway Presentation To Town Council May 8, 2018

2 FY2019 Budget Budget Calendar Public Outreach

3 Budget Calendar Presentation May 8 May 8 Budget Presentation & Work Session Budget Portal Opens Work Sessions Discussions May 15 Budget/CIP Work Session Adoption Public Hearing May 22 June 5 June 12 Public Hearing & Budget Portal Closes Budget/CIP Work Session & Final Budget Reconciliation Budget Adoption

4 Community Engagement May 8 Budget Portal Opens Budget Drop-Ins May pm May am 1 pm May pm May am May 22 Public Hearing Budget Portal Closes

5 FY2019 Budget Highlights Focus on Primary Operating Type Funds General Fund Stormwater Fund

6 Primary Annual Operating Budgets General Fund $37,212,000 Stormwater Fund $1,241, 000 Operating Budgets $38,453,000

7 Other Non-Operating Budgets OPEB Fund $110,490 LEO Separation Fund $340,180 MSD Fund $208,800 Other Non- Operating Budgets $2,940,797 New Capital Project Funds $2,281,327

8 General Fund $37,212,000 Revenue Expenditures $40,000,000 $35,000,000 $5,395,000 Fund Balance Engineering 2% Parks & Debt Service Recreation 6% 5% $30,000,000 $25,000,000 $640,900 $1,278,100 $1,164,800 $1,186,400 $9,036,800 Miscellaneous & Investment Earnings Other Taxes & Licenses Economic & Physical Development 6% Public Works 20% $20,000,000 Permits & Fees $15,000,000 $10,000,000 $18,510,000 Sales & Services Intergovernmental Capital Investment & Operations 33% Public Safety 28% $5,000,000 Ad Valorem Taxes $-

9 Stormwater Fund $1,241,000 $1,400,000 Revenue Expenditures $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $575,000 $57,800 $41,700 Fund Balance Transfers General Fund Review Fees & Interest ERU Fees Capital Transfer 38% Operations 56% $200,000 $566,500 Capital 6% $-

10 Budget Highlights - Revenue $0.39 Tax Rate Same Alternative Tax Rate Scenarios Provided Vehicle Tax Fee Increase from $15 to $30 Additional support for transportation and transit efforts Other Minor Fee Changes Multi-Family PIL Fire Alarm Fees Parks & Recreation Fees Stormwater ERU $25 Continued Positive Economy Leveraging Growth in Revenues Aggressive Allocation of Fund Balance to Capital Projects Less Conservative Forecasting Approach

11 Budget Highlights - Personnel Personnel Requests Nine Positions Police Lieutenants (3) Assistant Fire Chief Deputy Fire Marshal Planner II (2) Info Tech Analyst Communication & Outreach Director Six Additional Positions in Alternative Scenarios Personnel Related Items New Staff Operations Costs Office/Space Needs Merit/Market Pay Pay Plan Adjustments Health Insurance No Increase

12 Budget Highlights -Expenditures Governing Body & Administration Information Technology Debt Financing Costs Technology Enhancements Communication & Outreach Programs Security Enhancements Branding/Wayfinding & Gateway Signage Disaster Recovery Space Needs Analysis Equipment Replacement Strategic Plan

13 Budget Highlights -Expenditures Police & Fire Development Services Equipment Replacement Transit Study Technology Enhancements Affordable Housing Policy Analysis Fire Apparatus Reserve Stormwater Study Davis Drive/Parkside Valley Drive Intersection

14 Budget Highlights -Expenditures Public Works Parks & Recreation Vehicle Replacements MCP Bathroom Phase 2 Road Paving (Proactive) Greenway Safety Town Facility Security Enhancements Program & Event Initiatives Town Building Maintenance & Repairs Equipment & Other Initiatives Pugh House Repairs Equipment/Other Initiatives Telematics (Emergency Vehicles) FOCUS AREA MAJOR PROJECTS Landscape Contract Additions

15 Budget Highlights Capital Projects Public Works Facility Plan Design Green/Fairview Stormwater Improvements Church Street Sidewalk Morrisville Healthy Food Hub Phase 2 Northwest Park Fitness Stations

16 Budget Highlights Transfers/Reserves $3,670,000 CIP >45% Fund Balance as of 6/30/17 $475,000 Roadway & Transportation Reserves $200,000 CIP Annual Allocation $110,000 MSD $100,000 Sidewalks/Pedestrian Enhancement

17 FY2019 Budget Highlights Capital Investment Program Debt Service

18 Capital Investment Program Long-term Strategy Strategically Plan for Multiple Projects Design and Engineer Projects for Activation Five-Year Plan FY2019 FY Funding Recommendation Forecasting Window Funding Sources Identified Flexible & Responsive to Opportunities & Urgencies Future Bond Referendum Planning Tool

19 Capital Investment Program - Proposed Project Title *Bond Referendum Potential Category Rank Capital Budget Future Planning Years Rank Key: H=High, M=Medium, L=Low and P=Pending FY2019 FY2020 FY2021 FY2022 FY2023 Total Town Hall Terrace Connector Bicycle/Pedestrian H 200, ,000 Green/Fairview Stormwater Environment/ 475, ,000 H Improvements Stormwater Cedar Fork Elementary Field Parks & Recreation M 500, ,000 Cedar Fork District Park Field* Parks & Recreation H 700,000 2,100,000 2,800,000 Crabtree Creek Nature Park* Parks & Recreation H 937,500 2,812,500 3,750,000 Dog Park Parks & Recreation M 425, , ,000 Morrisville Community Park Phase 3 Parks & Recreation H 500,000 1,550,000 2,050,000 Food Hub Phase 2 Public Facility H 250, ,000 Public Works Facility Public Facility H 1,300,000 5,500,000 6,800,000 Town Center Parking Lot Public Facility H 425, ,000 Total Programmed 2,025,000 7,137,500 5,487,500 3,025, ,000 67,675,000 Revenue & Other Resources Cash Outlay (Operations/FB) 1,550, , ,000 2,175,000 Parkland Payment in Lieu 1,437,500 2,250, , ,000 5,037,500 Stormwater FB 475, ,000 Debt Service 5,500,000 2,812,500 2,100,000 10,412,500 Not Funded 49,575,000 Total Programmed 2,025,000 7,137,500 5,487,500 3,025, ,000 67,675,000

20 Debt Service Impact Debt Service Items GO Bond 2004 Park Improvements (RTP Ball Park) $ 289,600 $ 285,600 $ 281,600 $ 277,600 $ 273,600 $ 269,600 $ 265,900 $ 261,600 GO Bonds 2007 Public Improvements (PSMS BLDG) $ 708,300 $ 649,816 $ 617,800 $ 596,800 $ 580,800 $ 564,600 $ 544,000 $ 526,600 Fire Station One 2011 $ 306,700 $ 299,620 $ 292,700 $ 285,700 $ 278,700 $ 136,800 $ - $ - Public Safety Radio Replacements $ 153, ,450 $ 153,500 $ 153,600 $ 153,500 $ 153,400 $ 45,500 $ - GO Bond 2012 Street Improvements McCrimmon Parkway Extension Ph I $ - $ 174,234 $ 841,900 $ 816,900 $ 791,900 $ 766,900 $ 741,900 $ 716,900 Current Debt $ 1,458,100 $ 1,562,720 $ 2,187,500 $ 2,130,600 $ 2,078,500 $ 1,891,300 $ 1,597,300 $ 1,505,100 GO Bond 2012 Park Improvements MAFC $ - $ - $ - $ - $ 570,000 $ 555,750 $ 541,500 $ 527,300 GO Bond 2012 Street Improvements McCrimmon Parkway Extension Ph II $ - $ - $ - $ - $ 430,000 $ 419,250 $ 408,500 $ 397,800 Morrisville-Carpenter Road Project & MAFC Installment Purchase $ - $ - $ - $ - $ 370,000 $ 360,750 $ 351,500 $ 342,300 Future CIP Projected Debt $ - $ - $ - $ - $ 550,000 $ 816,000 $ 1,007,000 $ 981,000 Total Debt Service $ 1,458,100 $ 1,562,720 $ 2,187,500 $ 2,130,600 $ 3,998,500 $ 4,043,050 $ 3,905,800 $ 3,753,500 Debt Service as % of expenditures - Policy 15% or less 6% 6% 8% 7% 14% 13% 13% 12% Notes: General Fund Expenditures less Transfers. Percentages rounded up. Future CIP Project Debt is based on 5% interest rate and 20 Year terms.

21 Debt Service Ratio 20.00% 18.00% 16.00% 14.00% 15% 15% 15% 15% 15% 15% 12.00% 10.00% 12% 11% 8.00% 6.00% 4.00% 6% 6% 8% 7% 2.00% 0.00% Debt Service as % of expenditures - Policy 15% or less Debt Service Policy 15% or Less

22 FY2019 Budget Highlights Fund Balance Other Reserves

23 Fund Balance Appropriations General Fund FY2019 CIP Reserve Appropriation $3,670,000 Public Works Design Project $1,300,000 Morrisville Healthy Food Hub Phase 2 $250,000 Davis Drive/Parkside Valley Drive Intersection Improvement $175,000 Total Proposed FY2019 Fund Balance Appropriation $ 5,395,000

24 Fund Balance 70% 60% 50% 65.9% 59.3% Unassigned Fund Balance 49.1% 47.8% 45.5% 49.6% 52.8% Measured Year End 25% - 45% Fund Balance as % of Expenditures 40% 39.4% Based on Actual Expenditures 30% 20% 10% Generally Grows - Revenues Exceed Expenditures 0% actual 2016 actual 2017 estimated 2018 forecast 2019 forecast 2020 forecast 2021 forecast 2022 forecast 2023 Committing More Dollars to Reserves Unassigned Fund Balance as % of Expenditures Fund Balance High Policy Fund Balance Low Policy Uses Capital/Onetime & Unforeseen Items

25 Next Steps & Information Needs Council Discussion Other Information Needs to Make Decisions Other Strategic Priorities of Interest Q&A Information Supplement