Richard M. Riebeling...special events, Paradise Ridge Community Center, Sevier Park, reopening of...
Transcript of Richard M. Riebeling...special events, Paradise Ridge Community Center, Sevier Park, reopening of...
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FY2016 Budget PresentationRichard M. RiebelingFinance DirectorApril 30, 2015
Metropolitan Government of Nashville and Davidson CountyMayor Karl Dean
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Mayor Dean’s Priorities
N IGHBORHOODS
NEW AMERIC NSPUBLIC AFETY
EALTHOLUNTEERISM
EDUCATIO
ECONOMIC DEVE OPMENTSUSTAINABI ITY
TRANS T
NASHVILLE
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FY2015 – Current Year Status
• Departments are operating within budget
• Rebuilt reserves
• Small growth in property tax base
• Significant sales tax growth
• Maintained strong bond rating
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FY2016 Budget Instructions
• Continued need to reduce expenditures ‐ 3% scenario
• Very Limited opportunity for funding improvements
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Fy2016 Recommended Budget
$ 1,968,285,900
4.05% increase over FY2015
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The BudgetA Historical Perspective
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1.00
1.10
1.20
1.30
1.40
1.50
1.60
1.70
1.80
1.90
2.00
FY01
FY02
FY03
FY04
FY05
FY06
FY07
FY08
FY09
FY10
FY11
FY12
FY13
FY14
FY15
FY16
1.11
1.23
1.311.35 1.35
1.44
1.511.56
1.57
1.54 1.52
1.59
1.71
1.81
1.89
1.97
FY01 to FY08 = 40.4% growthFY09 to FY16 = 25.4% growth
Amounts taken from Substitute Budget Ordinances as approved by Metro Council
Total Budget GrowthAmounts in billions
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Schools Budget Growth
350
450
550
650
750
850
FY01
FY02
FY03
FY04
FY05
FY06
FY07
FY08
FY09
FY10
FY11
FY12
FY13
FY14
FY15
FY16
404.5
443.1477.6
502.9 510.5
542.3 563.2
591.5
620.8 620.8
633.3674.0
720.4
746.4
790.1
810.0FY01 to FY08 = 46.2% growthFY09 to FY16 = 30.5% growth
Amounts taken from Substitute Budget Ordinances as approved by Metro Council
Amounts in millions
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Property Tax
400
500
600
700
800
900
1,000
FY01
FY02
FY03
FY04
FY05
FY06
FY07
FY08
FY09
FY10
FY11
FY12
FY13
FY14
FY15B
udget
FY16B
udget
470
598 601 601 608
719
762 757774
791 781 789
891 912933
939
Amounts in millions
FY01 to FY08 = 60.9% growthFY09 to FY16 = 21.3% growth
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Sales Tax
0
100
200
300
400
500
FY01
FY02
FY03
FY04
FY05
FY06
FY07
FY08
FY09
FY10
FY11
FY12
FY13
FY14
FY15B
udget
FY16B
udget
237 232 231 240 250271
285 285
265 256 258
281301 315
325361
Amounts in millions
FY01 to FY08 = 20.4% growthFY09 to FY16 = 36.4% growth
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Pension Funds
Actuarial Value of Assets
UnfundedLiability
Percent Funded
FY2008 $1,921,193,000 $222,951,000 89.60%
FY2014 $2,220,622,000 $467,873,000 82.60%
FY2015(Preliminary/Unaudited)
$2,450,131,000 $290,299,000 89.70%
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Other Post Employment Benefit (OPEB) Obligations
Unfunded LiabilityFY2008 $2,220,200,000
FY2014 $2,457,200,000
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FY2009
• Total budget grew less than 1% over FY2008
* GSD/USD operating budgets dropped by $21 million
• Department reductions ranged from 0% to 12%
• 40% reduction in internal service fee budgets
• Improvements for Fire/EMS, truancy program,
homelessness services and launched Community
Enhancement Fund
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FY2010
• Total budget was 2.2% less than FY2009 ‐ $27 million
• Department reductions ranged from 0% to 16%
• Travel savings
• Fleet reductions
• Minimal improvements – benefits, contractual, MTA
and Schools
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FY2011
• Total budget was 1.2% less than FY2010 ‐ $18 million
• Department reductions ranged from 0% to 7%
• Debt restructuring – no property tax increase
• Improvements for contractual commitments, MTA,
Hospital Authority, Fulton Campus operating costs, and
crime lab start up costs.
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FY2012
• Total budget increased 3.8% over FY2011 ‐ $62 million
• Departmental reductions ranged from 0% to 3%
• Crime lab, Madison Precinct, MTA, Goodlettsville Library
and expansion of Limitless Libraries
• McCabe and Riverfront Parks operating costs
• Courthouse security transferred to Sheriff and inspector
consolidation
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FY2013
• Total budget increased 7.85% over FY2012 ‐ $124 million
• Department reductions ranged from 0% to 4%
• 53 cent property tax increase – $100 million of new
revenue
• Improvements included COPS funding, Limitless
Libraries, MTA, Parks, Public Works, fuel, and contractual
increases
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FY2014• Total budget increased 5.86% over FY2013 ‐ $103 million
‐ Reappraisal year
• Department reductions ranged from 0% to 2%
• Retirement incentive – approximately 500 employees
• Improvements included Madison Precinct, crime lab,
special events, Paradise Ridge Community Center, Sevier
Park, reopening of Main Library on Mondays
• Small business incentive program18
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FY2015
• Total budget increased 4.4% over FY2014 ‐ $79 million
• Department reductions ranged from 0% to 3%
• Domestic Violence Enhancements – Opened JCAC
• Office of Public Guardian
• Barnes Fund for Affordable Housing
• Bellevue Library, Commons Crossings, Lentz, Midtown
Hills, Sevier Park, Parks custodial and grass mowing
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Departmental Budget Savings
More than $75 million has been saved through
budget reductions or organizational efficiencies
since FY2009.
Equates to at least a 35 cents tax increase if
these savings were not implemented.
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FY2016 Recommended Budget
$ 1,968,285,900
4.05% increase over FY2015
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Where the Money Comes FromAll Other Revenues
11.6%
Grants & Contributions
18.6%
Local Option Sales Tax
18.3%
Property Taxes47.7%
Fund Balance3.8%
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Total Revenue Growth $75.2 million
• Property Taxes ‐ $6.0 million
• Local Option Sales Tax ‐ $35.6 million
• Grants and Contributions ‐ $13.9 million
• All Other ‐ $19.7 million
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Recommended Use of Fund Balance
Fund
Appropriatedfor use in FY16
Budget
Estimated June 30, 2016 Balance as a
Percent of FY16 Budget
Estimated June 30, 2015 Balance as a
Percent of FY15 Budget
OPERATING FUNDS:
GSD* General Fund $40,000,000 6.1% 6.0%
USD** General Fund $8,070,700 5.7% 8.6%
Schools Fund $16,000,000 5.5% 5.8%
DEBT SERVICE FUNDS:
GSD* Debt Service Fund $5,000,000 5.2% 5.5%
USD** Debt Service Fund $1,500,000 9.4% 10.0%
Schools Debt Service Fund $3,300,000 5.2% 5.6%
*GSD ‐ General Services District **USD ‐ Urban Services District
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Fund Balance Usage
FY11 and FY13 are not included because no fund balance was used.
Amounts in millions
0
20
40
60
80
100
120
FY01
FY02
FY03
FY04
FY05
FY06
FY07
FY08
FY09
FY10
FY12
FY14
FY15
FY16
19.2 18.6
68.7
105.2
52.6
14.818.6 15.7
31.4
36.0
24.6
45.0
72.573.9
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Year-End Fund Balances Operating Funds*
0
40
80
120
160
200
FY01
FY02
FY03
FY04
FY05
FY06
FY07
FY08
FY09
FY10
FY11
FY12
FY13
FY14 FY15(Projected)
126.1121.1
70.759.7
53.7
81.9
107.6
86.274.9 86.3 87.6
124.8
148.1
124.8
166.7
26* GSD/USD/MNPS
Amounts in millions
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Where the Money Goes
Education41%
Debt Service10%
Health & Social Services
4%
Infrastructure &
Transportation5%
General Government
13%
Recreation & Culture
4% Public Safety21%
Other2%
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Where the Money Goes$76.6 million
• Debt Service ‐ $4.1 million
• Schools ‐ $36.1 million
• FY15 and FY16 Pay Plan needs ‐ $23.6 million
• General Government ‐ $12.8 million*
* Net change after improvements and reductions
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Operating Budget Savings
• Health ‐ $2,953,000
• IOD ‐ $2,151,400
• Pension ‐ $8,128,000
• Other ‐ $2,040,800
Total $15,273,200
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Status Quo Budgets
• Most departmental operating budgets are
status quo and received no reductions
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Schools
FY2015 FY2016 Percent Change
DollarChange
Operating Funds 773,920,300 810,000,000 4.66% 36,079,700
Debt Service Transfer 16,147,200 ‐ ‐100.00% ‐16,147,200
Total Budget 790,067,500 810,000,000 2.52% 19,932,500
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Pay Plan Increase HistoryFY2008 • 2% COLA and increments for eligible employees
FY2009 • Increments for eligible employees
FY2010 • None
FY2011 • 2% lump sum for full‐time staff, $2,000 cap
FY2012 • 1.5% lump sum for full‐time staff, $1,500 cap
FY2013 • 2% for department heads, SR13‐equivalent and upper grades• 4% increase for all other employees
FY2014 • 1.5% COLA for all employees including part‐time staff (effective Jan 2014)• Increments for eligible employees
FY2015 • Full funding for raises given in FY2014• 1% COLA and 2% open range (effective Jan 2015)• Market adjustment for positions deemed significantly below market (effective
Jan 2015)• Increments for eligible employees
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FY2016 Pay Recommendations
• Full funding for raises given in FY2015
• 2.5% COLA (effective July 1)
• Increments for eligible employees (effective increment date)
• Compression for certain public safety positions
• 2% Open Range (effective July 1)
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Recommended Subsidies
There is no operating subsidy budgeted for:
• Farmers’ Market
• Municipal Auditorium
• State Fair
• Contractually, the Farmers’ Market lease payment discontinues in FY2016• State Fair and Farmers’ Market project to be self-supporting in FY2016
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Hospital Authority
20
25
30
35
40
45
50
55
60
FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16
49.8
47.3
41.743.2 43.2
47.5
43.9
35.0 35.0
FY10 does not include $31 million loan which was forgiven
Amounts in millions
FY13 includes $4,292,400 supplemental and FY14 includes $5,227,100 supplemental 35
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Metro Transit Authority
$3,643,000
• Charlotte Pike and Nolensville Road BRT lite
• Employee and benefit costs
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Metro Transit Authority
0
5
10
15
20
25
30
35
40
45
50
FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16
18.2 17.5
19.123.0
26.3
29.433.4
36.4
40.0
Amounts in millions
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Other Transit Requirements
• Regional Transit Authority
$164,500 improvement for a total FY2016
allocation of $320,200
• Commuter Rail subsidy is flat at $1,500,000
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• Beer Inspector ‐ $56,900• Elections Poll Worker Pay/Staff ‐ $292,400• Fire Hall maintenance ‐ $150,000
Stations 19 and 20• Health ‐ $319,800
Animal control and dental services• Human Resources ‐ $182,100
Veterans’ outreach, domestic partner services and Diversity Advisory Committee recommendations
• ITS ‐ $2,417,300 Contractual increases, open data, software support, etc.
• Parks ‐ $1,412,400 Maintenance, mowing, custodial, etc.
Miscellaneous Improvements
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• Public Library ‐ $1,401,900 Friday openings, integrated services with MNPS, annualizes funding for libraries opening in FY2015
• Public Works ‐ $1,261,200 Utilities, contractual increases, south convenience
center and downtown recycling operating costs• Special events ‐ $802,200 Police and ECC
Miscellaneous Improvements
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Office of Family Safety
• Creates new office to coordinate domestic violence services
• Will manage Jean Crowe Advocacy Center• Funding transfers from existing allocations• Small operating budget enhancement to establish
department (e.g. office supplies)
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Other Recommendations
• Barnes Fund for Affordable Housing ‐ $1 million – partially
funded by Air BnB revenues
• Community Foundation – Digital Inclusion Project ‐ $100K
• Nashville Ballet ‐ $200K
• Nashville Technology Council ‐ $75K
• National League of Cities ‐ $500K
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Legislation to Track with Budget
• Operating Budget Ordinance
• Tax Levy Ordinance
• Urban Council Resolution
• Pay Plan Resolutions
• Property Tax Relief
• Litigation Tax for General Sessions Judges Salaries
• Office of Family Safety Ordinance
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Annual Debt Report
BL2014‐696
The annual debt report will be emailed to
Metro Council members today.
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Outstanding Debt
Type of Bond Principal OutstandingJun 30, 2014 Jun 30, 2015
General Obligation $2,227,730,000 $2,124,090,000 Convention Center Authority $623,215,000 $623,215,000 Sports Authority $157,060,000 $149,115,000 Water and Sewer $796,685,000 $765,185,000
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Annual Debt Service Requirement 2006 – 2016
General Obligation Debt
11.26% 10.94% 10.93%10.55%
10.53%
5.51%
6.74%
7.42%
10.52%
11.19% 10.50%
0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
14.00%
16.00%
18.00%
20.00%
‐
50,000,000
100,000,000
150,000,000
200,000,000
250,000,000
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
USDSchoolsGSD% of Budget
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General Obligation DebtAmounts in millions
500
1,000
1,500
2,000
2,500
FY16
FY17
FY18
FY19
FY20
FY21
FY22
FY23
FY24
FY25
FY26
FY27
FY28
FY29
FY30
FY31
FY32
FY33
FY34
FY35
Principal Balance
63.58% Paid in 10 Years
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GO Commercial Paper
General ObligationTotal Combined Commercial Paper Program (in millions)
Traditional Commercial Paper $500
Extendable Commercial Paper $200
Total Combined Program $700
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Capital Investments
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Capital Investments
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Capital Spending Plans*Amounts in millions
*Amounts do not include revenue funded projects
100
200
300
400
500
600
700
FY01
FY02
FY03
FY05
FY06
FY07
FY08
FY10
FY11
FY13
FY14
FY15
179.5
211.7
263.3
183.0
305.7318.7
240.6
560.8
250.0
407.7
300.0 275.0
No capital plan in FY04, FY09, and FY12FY13 had two capital spending plans
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Capital Spending Plan
$520 Million
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Capital Spending Plan
Schools $131 millionPublic Safety $172 millionParks and Public Works $123 millionOther $94 million
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Proposed Bond Issuance
• Bond resolution to be filed authorizing up to $400
million in late July
• Low interest rates
• Financial flexibility reduces outstanding commercial
paper loan to approximately $100 million
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Capital Spending PlanLegislation to Track with Budget
• Capital Improvements Budget Ordinance ‐May 15th filing
• Initial bond resolution authorizing up to $520 million
• Bond resolution authorizing sale of $400 million
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For More Information Visit the Citizens’ Guide to the Metro Budget
www.nashville.gov/citizens_budget