2013â2014 BIENNIAL BUDGET - the City of Tukwila

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2013-2014 Biennial Budget City of Tukwila, WashingtonFinancial Planning Model & Capital Improvement ProgramOverviewFINANCIAL PLANNING MODELThe Financial Planning Model is comprised of three attachments:Attachment A: Total Revenues and ExpendituresThis attachment summarizes the general government revenues, operations and maintenance, and debtand capital expenditures.Attachment B: General Fund Operations & Maintenance ExpendituresThis attachment provides a greater level of detail for the anticipated operations and maintenance.Attachment C: General Government Project CostsThis attachment provides a greater level of detail for the anticipated capital expenditures.GENERAL REVENUESWhile the region and the state experienced dramatic declines in revenue from various sources duringthe most recent recession, the local economy has shown signs of stabilizing. During the 2013-2014biennium, change in personal income is expected to outpace change in Seattle CPI, unemployment isexpected to show modest declines, and construction is expected to continue to rebound.Sales TaxesSales tax is the City’s largest revenue source. Through the month of September 2012, sales taxcollections are running 4% behind 2011 and slightly behind budget. This is still substantially behindthe high in 2007. The City expects to receive nearly $1.17 million in sales tax mitigation from theDepartment of Revenue, which will offset some of the decline in sales tax receipts. We are projectingan annual increase over budget of 1.7% in sales tax revenue for 2013, 2.5% increase in 2014, and annualincreases of 1.5% to 3% for 2015 through 2018.Property TaxesThe 1% property tax limitation is still the most revenue restrictive element of the general revenue base.Accordingly, other revenue categories must make up the difference in order to achieve the overall 3%growth target. Combined with new construction as the foundation for annual growth, we areanticipating a growth rate of 3.7% for 2014, due primarily to additional taxes from an expectedannexation, and a rate of 2.5% for 2015 through 2018.Utility TaxesThe utility tax rate is 6% for external (non-City run) utilities. The City enacted a solid waste utility taxin 2009 in an effort to address revenue shortfalls in certain areas and unexpected costs in other areas.The City also enacted a utility tax on the City operated utility funds (water, sewer and surface waterutilities).Page 341
2013-2014 Biennial Budget City of Tukwila, WashingtonOther RevenuesThe City enacted a revenue generating regulatory license (RGRL) fee during 2010. Revenue from thislicense fee is expected to exceed $1.7 million per year. The remaining General Fund revenues aregambling taxes, permit fees, court fees, charges for services, and recreation program fees, which areprojected to show modest increases through 2014. Construction related fees are expected to graduallyincrease as improvements in the local economy occurs.UTILITY REVENUESWaterRevenues continue to remain flat. Cascade Water Alliance (CWA) has increased the cost of purchasedwater and administrative dues for 2013 by 6.1%. We are proposing a 10% rate increase in 2013, toincorporate CWA’s increases and the cost of the City’s infrastructure. A 10% increase is also proposedfor years 2014 through 2018. These rate increases are necessary to keep the fund stable and incorporateCWA’s rate increases in the future.SewerKing County Sewer Metro will have a 10.22% rate increase in 2013. To maintain our current level ofservice, a 20% rate increase has been factored into the six-year Sewer Plan for 2013 through 2014, and10% and 15% increases in 2015 through 2018. The capital program for the sewer fund continues to bereduced to build up reserves.Surface WaterThe Six-Year Planning Model requires rate increases to compensate for rising costs. We have proposedrate increases of 5% in 2013, 2015 and 2017, and 10% increases in 2014, 2016 and 2018. Future NationalPollutant Discharge Elimination System (NPDES) permit requirements may have significant costs forthe Surface Water fund. The City’s surface water fees remain significantly lower than neighboringjurisdictions.CAPITAL EFFORTS – GENERALBelow are the significant new elements of the 2013-2018 Capital Improvement Program.ResidentialResidential street improvements include 42 nd Avenue South – Phase III, and Cascade View andThorndyke Safe Routes to School projects.BridgesWe have changed the Boeing Access Road Bridge (BAR) Replacement to the Boeing Access RoadBridge Rehabilitation. The estimated cost to rehabilitate the BAR Bridge is $12 million, as opposed tothe $30 million for full replacement. In December 2012, the rehabilitation project received $9.745million in grant funds from the Federal Highway Bridge Program and we have tentatively beenapproved for a Public Works Trust Fund Loan for the City’s match. The Tukwila Urban CenterPedestrian Bridge design is scheduled for completion in 2013, with construction in 2015, grantdependent.Page 342
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2013â2014 BIENNIAL BUDGET - the City of Tukwila

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2013â2014 BIENNIAL BUDGET - the City of Tukwila