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Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Town of Chapel HillFiscal Conditions Report
Roger Stancil, Town ManagerMarch 2014
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Agenda
FY15 Budget
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Where Does the Town Keep its Money?
FY15 Budget
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
General Fund($54.8M)
Transit($20.0m)
Stormwater($2.7m)
Parking($2.7m)
Debt Service & Capital($7.4m) Housing
($1.9m)
Internal Service($3.8m)
Relative Size of Funds FY2013-14 Budget
Relative Size of Funds FY2013-14 Budget
Other Funds($1.5m)
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
How we slice the pie
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Where Town Revenues Come FromFY2013-14 Budget: $94.9m
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
How the Town Spends its RevenuesFY2013-14 Budget: $94.9m
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Fiscal Indicators
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
$(1,500,000)
$(1,000,000)
$(500,000)
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
Impact of Financial CrisisGF Revenues Less Expenditures* 2007-08 thru 2012-13
$365,912
$1,397,401
($1,124,342)
$1,826,340
Financial Results Rebounded after Fiscal Crisis
$1,813,223
* Net of transfers to other funds
$1,273,481
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
19.6%23.5%
14.9%
25.4%26.2%
$20.4
$22.3
$19.9
$21.5
Total Fund Balance in Millions
$21.3
* Unassigned fund balance is calculated as a percent of next year’s appropriations and Is not adjusted for debt service payments moved to Debt Management Fund in FY09
$23.5
23.5%
Total GF Fund BalanceFY2007-8 thru FY2012-13
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Sales Tax Receipts YR to YR Change 2006-07 thru 2012-13
$ 456,509
($724,613)
$176,445
($268,477)
Change from Prior Year
$ 163,556
1.7%
-7.4% -3.0%
+2.0%+2.9%
$824,491
+9.2%
$283,275
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Occupancy Tax YR to YR Change 2006-07 thru 2012-13
$ 207,310
($93,291)
$82,409
($101,793)
Change from Prior Year
-1.7%-9.5% -11.4%
+10.4%+2.9%
$94,322
+10.8%
$11,949
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
($6,892)
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Facts About Tax
FY15 Budget
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Property Tax Facts
Tax increase of 2 cents for FY14 was the 1st Town tax increase in 5 years
Town property taxes are split between Transit, Debt Service and General Fund
Town Tax is 33% of total property tax burden for Chapel Hill Residents
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Property TaxesThe Town’s property tax rate is divided into three parts: General Fund, Transit Fund and Debt Service Fund.
For FY2013-14, rate increased 2 cents: 1 cent for GF and 1 for Transit
FY11-12 FY12-13 FY13-14
General Fund 37.8 37.8 38.8
Debt Fund 7.5 7.5 7.5
Transit Fund 4.1 4.1 5.1
Total 49.4 49.4 51.4
Property Tax Rate (cents per $100)
$5,471,000
$3,720,000
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Chapel Hill Property Tax BurdenTown taxes represent 33% of the total Chapel Hill tax burden
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Comparative Tax Rates(Municipality Only)
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Debt and Capital Financing
FY15 Budget
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Capital Program
$183,439,000Requested capital projects for the next 15 years
Public safety headquarters
Bicycle and Pedestrian Plans
Storm water Projects Streets & SidewalksFire Apparatus
Parks Master Plan
Transfer StationFire Stations
Public Building RenovationsParking Facility Improvements
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Debt Management Fund 20 Year Debt Issuance Plan
$20 million
Debt Issuance
$1.7 million
$20 million$20 million
$20 million
Deb
t F
un
d B
alan
ce
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Capital Improvements
Small capital improvements are funded through annual pay-as-you-go.
Amounts fluctuate with availability of “one-time” money.Target $1.0 millionper year
Budgeted Capital Improvements (Pay-Go)
$0.76M$0.59M
$0.30M
$1.17M
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Debt Management
Debt Levels have been stable since 2005 despite major projects (Library, Southern Community Park and Aquatics Center). Debt pay-down rate is high
Total Outstanding Debt (Last 10 Fiscal Years)
$1,124
$608
$1,125 $1,062$1,146
$1,041 $930
$1,140
$847
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
FY15 Budget
FY15 Budget
“It’s clearly a budget. It’s got a lot of numbers in it.”
George W. Bush
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Budget Process
DepartmentalBudget
Preparation
Staff Budget Review
Manager’s Budget Review
Manager’sRecommended
Budget
Council Budget Review
Adopted Budget
Feb 7 – Mar 7 Feb 22 – Mar 14 Mar 17 – Mar 26
May 12
May 12, 14, & 19
June 9
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Capital Challenges
Matching financial and operating capacity with the need to invest in public assets
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Operating Challenges
Balancing our services to achieve community goals and maximize value to the people we serve
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Policy Challenges
Seeking long term sustainable solutions consistent with our community values
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Purpose
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Address Budget Challenges
Transfer Station
CIP Funding Target
Street Resurfacing
Asset Management
Town Hall Project
Ephesus Fordham
Transit Sustainability
Library Operating
Health Care Costs
Capital Operating Policy
Parks Master Plan
Northside Community
Youth Services
Public Safety Facilities
Pay 4 Performance Affordable Housing
Rogers Road
Bike & Pedestrian Plan
Parks & Rec. Facilities
Recycling
Referendum
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Align Budget with Council Goals
Facilitate Getting Around
Nurture OurCommunity
Develop Good Spaces, New
Places
Support Community
Prosperity
Create a Place for Everyone
Grow Town/Gown
Collaboration
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
–Continue to build a nimble, strategic organization
–Enhance departmental collaborations and strategic partnerships for problem-solving
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
TRENDS PRIORITIES
Priorities
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Priorities– Enhance organizational capacity
•Community outreach•Data based long range planning•Telling the story of thinking behind
decisions and recommendations•Understanding financial and policy
tradeoffs
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
TRENDS PRIORITIES
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
FOCUS–Affordable housing–Sustainable recycling and solid waste management
–Sustainable transit services
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
TRENDS PRIORITIES
Priorities
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
FOCUS–Capital planning–High speed, available community fiber
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
TRENDS PRIORITIES
Priorities
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Community Survey Results
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Community Survey Results
Most of the residents surveyed were satisfied with Town service
(85% satisfied with overall services provided)
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Community Survey ResultsIncrease in emphasis:–Traffic flow–Preparing for the future–Managing change–Value for tax dollars–Stormwater management
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Town of Chapel Hill | 405 Martin Luther King Jr. Blvd. | www.townofchapelhill.org
Questions?
FY15 Budget