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Dollars & Cents Brochure Copyrighted April 16, 2018 City of Dubuque Consent Items # 8. ITEM TITLE: Dollars & Cents Brochure SUMMARY: City Manager transmitting the Dubuque Dollars & Cents brochure SUGGESTED DISPOSITION: Suggested Disposition: Receive and File ATTACHMENTS: Description Type Dollars &Cents Brochure Supporting Documentation , � � � ' � ':� I I � � City Portion of Property Taxes FY2019 City Property Tax Rate Comparison City of Dubuque FY2019 Property Tax Rate 5za $ g s�s.�s s�s.=s . $10.59 per thousand dollars of assessed value s�s.�s s��.4s s�s s�s.�� s�s.;s $'s�'s $"�" • A 2J9% reduction from FY2018's properry tax rate $„ of $10.89 s��.�s s��.�s s�= 5ia.a� $�ass Sia � ' � � " ' � � " ' � i - Se � ' � ' i " � 1 � 1 % $' Residential $14.47 more 1.92% increase s= 5a ame: o�e�q�e a�te�y^ we:me: ceaa� a�e.w/o mwaary sro�.cry oa�e�port waee�mo oe: ro��a Commercial ��28.66 �CSS 3.92% decrease �FY19� Moines" Rapitls Oubuque Moines" 9lutts *Indudes Me hansit bs levy adopted by Me Des MoinesArea Regional Transit AuMority for comparability. Industrial $174.321ess 3.54% decrease Dubuque has the SECOND LOWEST FY2019 property tax rate ($10.59 per thousand assessed value) of lowa's 11 cities with Multi- $�45.27 less �.2�°io decrease populations over 50,000. Residential • Highest-ranked city (Council Bluffs, $18.26) is 72% higher than Dubuque • Average ($15.35) is 45% higher than Dubuque How Your Property Tax Rate Is Split Where do your property taxes go? FY2018 Consolidated Rate of 33.91801 Property taxes are collected by the County and distributed monthly to the City Independent of Dubuque and other taxing bodies. Property taxes are distributed among l.g� the Dubuque Community School District(44.1%), City of Dubuque (321%), Dubuque County(18J%), Northeast lowa Community College (3.2%), and independent authorities* (1.9%). .. Properry taxes are certified July 1 with the first half due on or before � September 30 and the second half due on or before March 3L For more information, contact the City Assessor at 563-589-4416. * `7ndependentAuthorities"includes CityAssessor, County Hospital (Sunnycrest Manor), Dubuque CountyAgriculture Ertension, and the Tuberculosis and Brucellosis Eradication Fund. The Ciry's approved budget provides estimated revenues and expenditures for programs and services to be provided duringthe fiscal year, from July 1, 2018,through June 30, 2019. The budget has two primary � ' � - � ' � components:the operating budget and the capital budget. General Funtl $62,228,507 $725,211 Water Funtl $8,921,869 $6,682,199 The Ciry's total budget forfiscal year 2019 is $174,801,105, a 3 percent Sanitary Sewer Funtl $10,716,675 $1,976,641 increase from FY2018. The operating budget($131,216,119) is a 1.37 percent increase from FY2018,while the capital budget($43,584,986) Stormwater Funtl $3,427,986 $5,714,268 represents an 8.23 percent increase from FY2018. Refuse $2,986,427 $416,007 Parking $3,130,218 $251,521 The capital budget funds major improvements to City facilities and infrastructure, and is based on the firstyear of needs in the fiv�year Capital Improvements Program (CIP) Plan. The CIP Plan is an annually revised document that guides the City's investments in public facilities Fiscal Year 2019 City Budget and infrastructure during a five-yeartime horizon. The capital budget is supported through multiple funding sources. � The operating budget includes personnel costs and annual facility operating costs. It is funded primarily through local property and sales taxes; revenue transfers between departments; licenses, such as building and development fees; franchise fees for a company's use of the City's rights-of-way; charges for services(like sewer and water);fines and other �� : . smaller sources of revenue such as interest on investments. General Fund The general fund is the general operating fund ofthe Ciry forgeneral service departments. The general fund has an operating budget of$62.2 million and a capital budget of$0.7 million. This fund encompasses the bulk of activitiesthat are traditionally considered basic governmental services such as public safery, culture& recreation, health &social services, and general government. How General Fund Money is Spent Pu61ic Safety (fire, police, ambulance services,9-1-1 dispatch, animal control, building � o inspections, crime prevention,emergency management,flood control,etc.) 44.3/o Culture &Recreation (AmenCorps,arts&cultural affairs, civic center, conference center, library, �$ 60�0 marina, parks, recreation,etc.) General Government (city attomey& legal services, city derk,city council,city hall &general buildings, �3.3% city manager,finance, information services, etc.) Pu61ic Works (airport, maintenance of streets, bridges,and sidewalks;snow removal,street 9 Do�o deaning,street lighting,traffic control,etc.) Community& Economic (economic development, housing and community development, neighborhood 6.4% Development development, planning and zoning,etc.) Transfers Out (to funds otherthan General Fund) 4.5% Capital Projects (City infrastructure improvements or major equipment purchases) 1.1% Health&Social Services (community health, health regulation and inspection, human rights, etc.) �,4% De6tService (govemmentcapitalprojects,tax-incrementfinancing[TIF]capitalprojects) �,3% General Fund Reserve Projections The City maintains a general fund reserve, or working balance, to allow for unforeseen expenses that may occur. The reserve will increase by $3.4 million (28.86%)from Fiscal Year 2018- Fiscal Year 2020. The goal is to have at least a 20% reserve. FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 Contribution $1,050,000 $1,050,000 $1,000,000 $100,000 $100,000 $100,000 City's Spendable General Fund Cash Reserve Fund Balance $12,832,730 $13,882,730 $14,882,730 $14,982,730 $15,082,730 $15,182,730 %of Projected Revenue 17.93% 19.44% 20.76% 20.83% 21.31% 21.39% Utility Customer Rates & Fees for Fiscal Year 2019 r�u,y �, 2018-June30, 20�9, Vl/hat's included in your monthly utility bill? Among lowa's 11 largest _ � Curbside Collection cities,the highest curbside �,��► Basic Rate = $15.37/month collection rate(Ames) (��,.�►' (1.7% increase from FY2018 or$0.26 per month) is 70.79%higher than � � '� �� Curbside collection includes one 35-gallon container per week. Dubuque's rate,and the """�� `-� Weekly curbside recycling is no e�ctra charge. average is 4.93%higher !_ than Dubuque. J � � JQIIIIQIy JCYYG �� Avg. Household Rate* _ $40.42/month - (3% increase from FY2018 or$1.18 per month) Among lowa's 11 largest cities,the highest sanitary sewer *Average household rate based on 6,000 gallons per month at$0.00674 rate(Ankeny) is 52.52%higher than Dubuque's rate,and the pergallon. The City's wastewater col%ction and treatment system average is 8.47% lower than Dubuque. operates as a self-supporting enterprise fund which means that it is funded only with revenue from user fees. Avg. Household Rate* _ $7.76/month (6.75% increase from FY2018 or$0.49 per month) Among lowa's 11 largest cities,the highest stormwater rate *Monthly rate for majority of Dubuque households based on usage of (Des Moines) is 63.40%higher than Dubuque's rate,and the one single family unit. Stormwater fees are based on the amount of average is 32.69%lower than Dubuque. impervious ground coverage on a property. Fees collected are only used for stormwater management activities such as the construction, maintenance and operation of the public stormwater management system. YYAICI Among lowa's 11 largest cities,the highest water rate(West QVg. Household Rate* _ �29.28/month Des Moines) is 13.85%higher than Dubuque's rate,and the (3% increase from FY2018 or$0.85 per month) average is 2.28%higher than Dubuque. *Average household rate based on 6,000 gallons per month at$0.0047 per gallon � _.._..... ......ii . � i , , � i i i • � � i i � � : • . . . — • — DID YOU KNOW? � � � � ' �� -� - ' ��- � - Residents have access to the City's budget, � revenue, and spending via user-friendly websites. � Making Sense of Understanding Check them out.� DollarsandCents Expenses OPEN BUDGET: OPEN EXPENSES: dollarsandcents.cityofdubuque.org expenses.cityofdubuque.org � �I� I � � �� I. II �� - , , , � , - . � The City of Dubuque's use of debt can be compared to many average homeowners � Total Debt (in millions) who borrow to buy their home. The City has borrowed money at low interest rates to invest in infrastructure. Unlike the federal government, $310 Debt is bein issued each ear but g � Y + the City does not borrow money to cover $290 $296 more is being retired than issued. operating expenses. $z�o � szss � � �; ; . , SzSo �,�� I� . � _�,- — , + _ — , °n o$230 '��, k� a��.. �$210 5223 � ..., ---_`�_ - s� `�". „_"'�,...,�.�" $190 � :c�`^; _�� w�;; �< $170 �Y - - � $150 FY2019 Adopted Budget $137 � r — - _ ` /h N n i — $�3o Stormwater improvements FY 15 FY 16 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY 26 FY 27 FY28 � ��,- � �`�-��+T ��,y(` �, .��. Statutory Debt Limit Used (as of �une 30) -� �y '��. - � - , j � � . �oo�io This chart shows the percentage of statutory debt limit �� g � •��'� -',�E � ��, � �-�- ��,' �i_ , :� , - : �` so�io in the Fiscal Year(FV)2019 adopted budget.By FV2028, _� - $oo�0 90� the City will be at 20%of the statutory debt limit � ��-- -� � - - . - - �Do�o � Water&Resource Recovery Center �.� ==�� 60% I � 50% 56% � 40% so�ro 3�r � - # Project Description and Amount Outstanding 20% FY2019 Adopted Budget 1 Stormwater Improvements zo i 10% $73,254,610 FY 15 FY 16 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY 26 FY 27 FY 28 2 Water&Resource Recovery Center $62,706,000 3 Water Improvements $31,633,961 Percentage of Legal Debt Limit Utilized (FY») 4 Parkinglmprovements $26,739,823 $��° 5 Downtown TIF Incentives/Improvements 70% 71% o ss/o $21,654,743 o s2% 6 Sanitary Improvements so% 5s% 5s% 5s% 55��0 $15,448,490 50% 7 TIFRebates/Bonds to Businesses ao% o $9,816,164 3�/° 34% 0 8 Industrial Park Expansions 33/o 30% $7,270,110 25% 21% Zoo�o Zoo�o 9 Caradco Building lowa Finance Authority Loan 0 $3,739,197 ° 10 Street Improvements* po�o $3,654,676 a�� °� +�"�`� �y'`9� c.�0o� �° Q'�' �ti''� �,c�`� ��' c� �,� �'�� Total $255,911,114 O�� ,� `'��J �'°6\ P � ��°0\ O�� ` �°0\ 0 �J� G Qp� y�' G� OJ� *$126 million was spent on street improvements from 1997-2017 Rev.4/2/18