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Home My WebLink About01 January NewsletterBudget Summary Mayor Deborah Stinson City Manager David Timmons A Note from the Mayor & City Manager: As we welcome 2018, the City is opera�ng with a new annual budget. The City’s financial strength is reflected in its consecu�ve years’ increase in revenues and financial reserves, clean financial audits and an upgrade in the City’s bond ra�ng. The 2018 budget builds on the successes of the last few years of growth in the City. The 2018 budget adopted on December 4, 2017: • Provided opportunity for ci�zen input at public hearings and public mee�ngs during November and December. • Meets or exceeds council financial policies for reserve requirements for all funds. • Establishes expenditure levels for all funds. • Provides consistency with the City Council’s strategic plan objec�ves. • Provides funding for key capital projects that enhance our City’s streets, u�li�es and services. The rest of this newsle�er provides highlights of the 2018 budget. For informa�on on u�lity rates and downtown capital projects updates, please see the last page of this newsle�er. The en�re adopted budget is available on the City website at www.cityofpt.us 2018 OPERATING BUDGET SUMMARY The City’s Opera�ng Budget is segregated into funds, which have different restric�ons on how the money can be legally spent. WHERE THE MONEY COMES FROM: Revenues by Fund Type: General Special Revenue Enterprise Internal Service Debt Service Fiduciary TOTAL 8,638,366 7,329,090 7,230,865 2,984,084 1,675,155 46,735 $27,904,295 Charges For Services 33% Property Taxes 18% Interfund Transfers 13% Other Taxes 10%U�lity Taxes 9% Retail Sales Tax 8%Overhead Recovery 5% Int ergov't Revenue 2% Licenses & Permits 1% Misc. Income 1% 2018 Opera�ng RevenueRevenues by Source: INTERGOV'T, 7,300,050 EQUIP/SOFTWARE, 1,116,968 GEN OBLIG DEBT SVS, 1,642,656 OTHER IMPROVEMENTS, 580,000 WAGES & BENEFITS, 10,869,614 UTIL ITY DEBT SVS, 2,805,973 MISC OTHER, 1,627,047 REPAIRS & MAINT, 273,044 PROFESSIONAL SVS, 768,052 TRAINING / TRAVEL, 219,389 SUPPL IES, 948,239 2018 Opera�ng Expenses -$28,151,033 General Fund revenue can be allocated largely at the City Council’s discre�on. The General Fund supports: • Public Safety – Police & Fire/EMS services • Community Services – Parks, Pool, & City Facili�es • Development Services – Planning, Permi�ng and Land Use ac�vi�es • City Administra�on – Opera�onal & Financial management, Public Records & Public Mee�ngs administra�on • Debt Service – Debt payments to fund capital projects to improve our historic City infrastructure. WHERE THE MONEY GOES: By Department: By Type: GENERAL FUND – THE CITY’S PRIMARY OPERATING FUND Fire/EMS Other DSD/Planning Svs Parks/Recrea�on Facili�es Maintenance Tourism Promo�on Debt Service Administra�on Engineering Internal Service Police Public Works Library 2,412,416 48,753 1,026,670 1,077,144 956,836 354,838 4,451,629 3,203,156 1,062,064 1,465,655 3,326,718 7,673,416 1,091,738 TOTAL $28,151,033 Sales Taxes U�lity Taxes Overhead Recovery Business Taxes Property Taxes Other Taxes Licenses/Permits Intergov’t Charges for Services Misc 2,742,640 1,708,938 1,445,409 810,000 850,146 126,479 368,250 228,425 234,579 123,500 TOTAL $8,638,366 2018 General Fund Revenues Equipment/So�ware Intergov’t Misc Other Professional Services Repairs & Maintenance Supplies Training/Travel Transfers Wages & Benefits 64,130 1,117,121 648,499 210,491 26,674 119,849 125,404 1,596,170 4,701,519 TOTAL $8,609,857 2018 General Fund Expenses The City receives only a por�on of the property tax that each property owner pays to Jefferson County. Washington State sets limita�ons on the total levy rate and the amount of annual revenue increase that is allowed. The Levy rate for the City’s por�on of the property taxes is approximately $3.28999 per $1,000 of property assessed values. Property tax dollars are allocated as follows: PROPERTY TAXES Water and Sewer Rate Increases City u�lity customers will see a modest increase in rates effec�ve January 1, 2018. Water monthly base rates and water consump�on rates will increase by 2%. For customers connected to the City’s sewer system, sewer base rates and consump�on rates will increase by 3%. Stormwater rates are not scheduled to increase in 2018. The City is proud to announce that construc�on of the new water treatment plant and 5mg reservoir was completed in 2017. The new water treatment plant provides the required mandated water filtra�on, and the reservoir provides necessary storage in a facility that meets current seismic standards. This necessary infrastructure is paid for through low interest state and federal loans and the City’s own u�lity reserves. For this $24.5 million project, the City obtained favorable financing terms and over $2 million in loan forgiveness from these state and federal loan programs. The water capital surcharge that is assessed on each u�lity customer’s monthly bill is used to pay back these loans. City staff have worked hard to minimize the impact of these rate increases through cost effec�ve loans and diligent management of the cost of the construc�on project. The original financing plan reflected a scheduled monthly increase of $6 per account effec�ve January 1, 2018. We are happy to announce that the monthly increase for the capital surcharge in 2018 will only be $2 per account. Addi�onal informa�on on the State and Federally mandated water projects is available on the City’s website at www.cityofpt.us, under Capital Projects. Please note that rates will vary for each class of water customer and water meter size. The 2018 revised water / sewer rate tables are on the City’s website: www.cityofpt.us - In the drop down that says “What can we help you find?” Choose “U�li�y Informa�on” and then “U�lity Rates” and click “Go.” Library $1,076,951 General Gov’t $850,146 Parks/Recrea�on $412,000 Debt Services $252,000 Affordable Housing $10,000 Fire/EMS Services $2,419,511 2018 CAPITAL IMPROVEMENT BUDGET Water Street Enhancement Project The City’s six-year Capital Improvement Plan outlines the infrastructure improvements that the City plans for 2018-2023. Funding for capital projects comes from a variety of sources, including grants, federal and state loans, and debt financing. During 2018, the City plans to fund the following projects: 1. Go to the City of Port Townsend’s website at www.cityofpt.us 2. Select “Capital Projects” in the drop down menu and press “Go!”. 3. Under Current Projects select “Water Street Enhancement Project” 5. Once the project page opens, look at the bo�om right of your screen, there is a pop up window that says “Follow” 6. Click “Follow” and enter your email address and click on “Sign me up!” 7. You will then receive a confirma�on email and start ge�ng updates weekly. • Construc�on begins January 2nd. See the City’s website for the full construc�on schedule. • The first weeks will consist of surveying, contractor mobiliza�on, saw-cu�ng, excava�ng and other demoli�on work, and watermain installa�on. The demoli�on work will start at the intersec�on of Water and Taylor Streets and move to the west. The daily hours of work are Monday through Friday, 7 am to 6 pm. • Blog updates will be posted on the Capital Projects page at least once per week. Here is how to sign up for updates: $ 10,184,989 Capital Improvement Plan for 2018 General Gov’t: Mountain View Phase II Library Street Projects: Water Street Enhancement Complete Streets Jefferson Street Visitor Center/Sims Way Frontage Preliminary Design - Other Howard Street Finaliza�on Water Projects: Water Street Enhancement Big Quil Diversion Dam Treatment Plant Close Out Sewer Projects: Water Street Enhancement Ou�all Replacement Stormwater: Stormwater Management Plan Water Street Enhancement CERB Regional Facility Logan Street Design 1,390,000 329,500 $1,719,500 1,360,000 275,000 608,000 635,000 90,000 49,489 $3,017,489 900,000 1,300,000 1,868,000 $4,068,000 80,000 300,000 $380,000 60,000 120,000 800,000 20,000 $1,000,000 TOTAL Rainier (formerly Howard) Street was completed in 2017 The new Water Treatment Facility was completed in 2017 Other informa�on about this project is available on the Port Townsend Main Street Program’s website at www.ptmainstreet.org/i-love-port-townsend/ Water Street Enhancement Project starts in 2018