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Dollars & Cents Public Information Brochure Copyrighted May 6, 2019 City of Dubuque Consent Items # 5. ITEM TITLE: Dollars & Cents Public Information Brochure SUMMARY: City Manager providing a copy of the current Dollars & Cents public information brochure. SUGGESTED DISPOSITION: Suggested Disposition: Receive and File ATTACHMENTS: Description Type Dollars and Cents FY20 Brochure Supporting Documentation A � ��`� DU BUQU E j �� n�a.�«o�r�n��m,y�� - � � � � -� � �, � � :' ��' � `� ��.. _ c,�► I �... _ �i � �, 1 � ' � ' � , , . , , � , . � � , � � � �� City Portion of Property Taxes City of Dubuque FY2020 Dubuque has the SECOND LOWEST FY2020 property tax rate($10.33 per Property Tax Rate thousand assessed value) of lowa's 11 cities with populations over 50,000. • $10.33 per thousand dollars of assessed value • Highest-ranked city(Des Moines, $18.38) is 18% higher than Dubuque • A 243% reduction from FY2019's property tax • Average of other 10 cities ($15.15) is 41% higher than Dubuque rate of$10.59 FY2020 City Property Tax Rate Comparison �� $1826 $�8.38 $18 $1618 $1].55 $16 $15.15 $15.� $15.83 $16.0] No change No change s�a $12 $11A1 $11.80 � $10.03 $�0.33 $48.53 less 1.48% decrease :,o � � � � � � :a se $87.161ess 1J9% decrease sa sz $13229 less 7.07% decrease so Nmg Oubuque Nnkeny Wg�Og Nverage Cetlar IowaCirySiouxCiyOarenpotlWaletloo Council Og Moines w/o Rapitls BIURs Moing Oubuque *I ncl udes the hansit ta,levy adopted by the Des Moi nes Area Regional Transit Authoriry for compaa bil iry • • � •�� i �i � • • • � � � � � �� • � � � FY2019 Consolitlatetl Properrytaxes are collected bythe Countand dlstributed monthly Rate of3291592 to the Cit of Dubuque and other taxing bodies Properttaxes are � distributed amongthe Dubuque Communit School District(444%), Cit of Dubuque (322%), Dubuque Count(182%), Northeast lowa CommunitCollege (33%), and independentauthorities` (2%) Dubuque County Propert taxes are certified July 1 with the first half due on or before �$ �60�0 September 30 and the second half due on or before March 3L For more information, contactthe CitAssessor at 563-589-4416 � � � - � � NICC ' ' ' 3.34% * `7ndependentAuthorities"includesCityAssessor, CountyHospital � � (Sunnycrest Manor), Dubuque CountyAgriculture F�tension, and the Independent Tuberculosis and Brucellosis Eradication Fund. 1 .98% � _ �.� C ITY B U D G ET Fiscal Year 2020 City Budget The City's approved budget provides estimated revenues and expenditures for programs and services to be provided during the fiscal year, from July 1, 2019,through June 3Q 2020. The budget has iwo primary components: the operating budget and the capital budget. The City's total budget for fiscal year 2020 is$191,272,643, a 9.4 percent increase from FY2019. The operating budget ($134,272,643) is a 22 �� percent increase from FY2019, while the capital budget($57,186,070) ' � represents a 312 percent increase from FY2019. � � " The capital budget funds major improvements to City facilities and infrastructure,and is based on the first year of needs in the five-year Capital Improvements Program (CIP) Plan. The CIP Plan is an annually revised document that guides the City's investments in public facilities and infrastructure during a five-year time horizon. The capital budget is General Funtl $64,382,707 $2,133,906 supported through multiple funding sources, induding federal and state Water Funtl $9,451,703 $3,863,994 grants. Sanitary Sewer Funtl $10,809,241 $1,209,601 Stormwater Funtl $3,799,555 $11,323,529 The operating budget indudes personnel costs and annual facility operating Refuse $2,893,588 $495,778 costs. It is funded primarilythrough local propertyand sales taxes; revenue Parking $3,140,820 $480,323 transfers beiween 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;grants;and other smaller sources of revenue such as interest on investments. � � � � .� Genera I Fu nd Resitlents have access to the City's The general fund is the general operating fund of the City for general service butlget, revenue, antl spentling via � departments. The general fund has an operating budget of$642 million and a user-frientlly websites. � capital budget of$2.1 million. This fund encompasses the bulk of activities that are traditionally considered basic governmental services such as public safety, OPEN BUDGET: culture&recreation, health &social services, and general government. dollarsandcents.cityofdubuque.org OPEN EXPENSES: General Fund Reserve Projections expenses.cityofdubuque.org The City maintains a general fund reserve, or working balance,to allow for unforeseen expenses that may occur. The reserve will increase by$28 million (20.3%)from Fiscal Year 2019- Fiscal Year 2024. The goal is to have at least a 20% reserve. In Fiscal Year 2017,the City had projected reaching this consistent and sustainable 20% reserve level in Fiscal Year 2022 In fact,the City met the 20%reserve requirement in FY2018,four years ahead of schedule and,with the FY2019 and beyond contributions,this is sustainable. � � � $1,050,000 $1,700,000 $1,000,000 $100,000 $100,000 $100,000 $100,000 �� .� � � � . . $16,460,491 $15,485,326 $16,185,326 $16,285,326 $16,385,326 $16,485,326 $16,585,326 .• ' . ' . ., .. . 23.81% 22.02% 22.86% 22.93% 23.46% 22.92% 22.25% � WHAT'S INCLUDED IN YOUR MONTHLY UTILITY BILL? � Curbside Collection � Water �� Basic Rate = $15.62/month � Avg. Household Rate� _ $30J4/month (1.6% increase from FY2019 or$0.25 per month) (5% increase from FY2019 or$1.46 per month) Curbside refuse collection includes one 35-gallon container *Average household rate based on 6,000 gallons per per week. Weekly curbside recycling is no extra charge. month at$0.00512 pergallon � Stormwater J Sanitary Sewer Avg. Household Rate� _ $8.29/month Avg. Household Rate� _ $4224/month ��♦ (6.82% increase from FY2019 or$0.53 per month) � (4.5% increase from FY2019 or$1.82 per month) *Monthly rate for majority of Dubuque households based on *Average household rate based on 6,000 gallons per month usage of one single family unit Stormwater fees are based at$0.00704 pergallon. The Ciiy's wastewater collection and on the amount of impervious ground coverage on a property. treatment system operates as a self-supporting enterprise Fees collected are only used for stormwater management fund which means that it is funded only with revenue from activities such as the construction, maintenance and user fees. operation of the public stormwater management system. Among lowa's 11 largest cities: g Sth Lowest:The hlghest curbside collection rate 2nd Lowest: The hlghest water rate (West Des �� (Ames) Is 68.05% hlgher than Dubuque's rate, � Molnes) Is 13.85% hlgher than Dubuque's rate, and the average Is 5.52% hlgherthan Dubuque. and the average is 228% higherthan Dubuque. � 2nd Highest: The highest stormwater rate (Des 4th Highest: The highest sanitary sewer rate Molnes) Is 62% hlgherthan Dubuque's rate, and � (Ankeny) Is 5252% hlgherthan Dubuque's rate, � �� the average Is 33% lowerthan Dubuque. � and the average Is 8.47% lower than Dubuque. O � •• O $ . + ` Public Safety (fire, police, ambulance services, 9-1-1 dispatch, animal control, building 42 �% inspections, crime prevention, emergency management,flood control, etc.) Culture & Recreation (AmeriCorps, arts &cultural affairs, civic center, conference center, library, 17 80�0 marina, parks, recreation, etc.) General Government (city attomey& legal services, city clerk, city council, city hall &general 13.6% buildings, city manager,finance, information services, etc.) Public Works (airport, maintenance of streets, bridges, and sidewalks; snow removal, 9 lo�o street cleaning, street lighting,traffic control, etc.) Community & Economic (economicdevelopment, housingandcommunitydevelopment, neighborhood 6.4% Development development, planning and zoning, etc.) Transfers Out (to funds other than General Fund) 4.4% Capital Projects (City infrastructure improvements or major equipment purchases) 3.0% Health & Social Services (community health, health regulation and inspection, human rights, etc.) 1,7% Debt Service (govemment capital projects,tax-increment financing [TIF] capital projects) 1.3% , / • / / • � � / / / " / � � � � '��_� � � w. , � — - � n Total Debt (in millions) �� -� aaio Debt is being issued each year, but °i� � '"�" �—� $290 $295.6 more is being retired than issued. ,/�/ µ` " '` _ _ _ 8z�o � . �� - _ 8zso $266.9 � � � . . .`= 8zao $242.2 s • �' " ,. �y N� , I ♦ . a ' RY r! s -: � $210 _ _t" v . �' .- j� ��' Y Y� $190 + " $170 n — Siso � FY20 Adopted �.��,.- � . r— `�''� $160.7 _ ,�. Z 4; w ��: i ��" � $130 -�'reE'�'r�-�v. 7!.,.s:p.l FY15 FY76 FY17 FY78 FY79 FY1➢ FY21 FY12 FY13 FY24 FY25 FY1S FYZ7 FY1B FY29 _��y..� , _ i. . �?='�_ A:__ - 1 1 Statutory Debt Limit Used (as of J une 30) The City of Dubuque's use of debt can be compared to many average homeowners who borrow to buy their home. The City has so r 90� Thischartshowsthepercentageofstatutorydebtlimit borrowed money at low interest rates to invest in eor ° intheFiscalYear(FY)1010adoptedbudget.8yFY1018, infrastructure. Unlike the federal government, �o� theCdywill beatl8%ofthestatutorydebtlimit. the City does not borrow money to cover operating expenses. so r sor • • � �' � 51% aor 43% . 1 • � � � 30% 2a� # Project Description and Amount Outstanding 20� f FY20 Adopted 1 Stormwater Improvements �p� $73,265,450 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 FY 29 2 Water& Resource Recovery Center $62,706,000 3 Water Improvements Percentage of Legal Debt Limit Utilized $31,641,2�1 (FY2018) 4 Parkinglmprovements i oo r $26,747,543 y�� 5 DowntownTlFlncentives/Improvements eo°r $21,830,798 � 68� 67� � 6 SanitarySewerlmprovements $12,757,511 6�°� 57� 7 TIF Rebates/Bonds to Businesses szi szi s�i s�i eo°r q3� $9,467,350 y�� 8 Industrial Park Expansions ao°r 31� zsi zsi 24 0 $7,274,875 9 Caradco Building lowa Finance Authority Loan zo°r $3,722,825 io°r 10 Street Improvements* o� $3,570,089 o�ces f4`� cQ°� ��° Q�as �ec� o`ces ,'L�, .�'La, 8`es �o'� 'L°j, C4`� Tota I $252,9a3,)�2 oes� S�� o�°,e �� eaTYQ� Pc o�� o.°� o.°� P o°�� o.°`'� �o'�'� �' '�� J�� J�� '� �J�� *$1325 million was spent on street improuements from 1997- 2018 CM0007-042919