Report of the Montpelier City Council's Citizen Budget Review ...

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Debt/Capital Planning Subcommittee ReportToni Hartrich and Robert KasowThe Debt/Capital Planning Subcommittee was formed to examine Montpelier’s long term debtand capital planning strategy. Long term debt and capital planning are closely related so insome instances our analysis will look at these issues separately and together. We decided tocompare and contrast Montpelier to similar Vermont communities including: Barre, Winooski,Brattleboro, Middlebury, St. Johnsbury and St. Albans.We employed three techniques to make our comparisons. First, we did comparisons ofgeneral fund long term debt using the most recent numbers as of 12/31/2011 from the VermontMunicipal Bond Bank (VMBB) Database. Second, we created a standard list of questions fromwhich we hope to illuminate the similarities and the differences between the communities.Third, we conducted interviews with Montpelier and four of the five other towns (Barre did notrespond) to get a little more nuance and understanding of how these communities deal withdebt and capital planning.Montpelier’s Debt Management Policy:“Long-term debt should be issued for the acquisition, construction, or improvement of land,buildings, infrastructure, equipment, pubic improvements and payment of prior pensionliability that cannot be financed from current revenues or other resources. Current yearbudget appropriations and accumulated reserve funds should be used to minimize theamount of long-term borrowing that is required”.“Total direct debt service (principal and interest) for Government activities (General Fundand other Governmental activities) of the City will not exceed 8.2% of the total budgetedrevenues for Governmental Activities.”“Total direct debt service (principal and interest) for the City as a whole (GovernmentalActivities and Business Activities will not exceed 15% of the total budgeted revenues for theGovernmental Activities and the Business Activities (Water Fund, Sewer Fund, ParkingFund).”Long Term Debt:As of 9/21/12, Montpelier’s total City-wide Debt is $24,732,377: or $3, 148.62 for everyresident of Montpelier (based on 2010 population of 7855). 4Where does Montpelier rank among our other six communities? – The Numbers (source:Vermont Municipal Bond Bank as of 12/31/2011 based on data at the time of the latest bondissued by each town). 54 This includes a $3,565,000 pension refunding bond that was issued in 2009 to reduce the cost of the city’s pension liability. (Source: SandyGallup, Director of Finance)5 Montpelier’s figures in the VMBB comparisons do not include most recent bond of $1,670,000 (800K for Carr lot and 870K for capital needsand fire truck) approved by voters in March. Montpelier voters have also approved $2,000,000 bond for the district heat plant but the City isnot currently using this authority at this time.Page 38 of 88
Total Long Term Debt per Capita:Latest Bond Issued:1. Montpelier $2,940 (highest in state) (2009)2. Middlebury $2,598 (2011)3. Barre City $1,903 (2011)4. Brattleboro $1,814 (2010)5. STATE AVERAGE $753.196. Winooski $ 340 (2011)7. St. Johnsbury $ 302 (2011)8. St. Albans $ 292 (2010)Total Long Term Debt as a percentage of total revenue:1. Brattleboro 611.20% (highest in state)2. Middlebury 389.18%3. Montpelier 254.74%4. Barre City 182.39%5. STATE AVERAGE 110.66%6. St. Albans 53.60%7. Winooski 53.20%8. St. Johnsbury 52.92%Total Long Term Debt as a percentage of AGI (Adjusted Gross Income):1. Middlebury 19.19%2. Barre City 18.42%3. Montpelier 15.60%4. Brattleboro 12.60%5. STATE AVERAGE 8.71%6. Winooski 3.66%7. St. Johnsbury 2.41%8. St. Albans 2.10%Annual Long Term Debt Service as a percentage of total revenue:1. Brattleboro 28.90%2. Barre City 23.72%3. STATE AVERAGE 13.47%4. Montpelier 10.52%5. Middlebury 7.50%6. St. Albans 6.50%7. Winooski 5.44%8. St. Johnsbury 2.03%Page 39 of 88
Page 2 and 3: Table of ContentsTRANSMITTAL LETTER
Page 4: 1. EXECUTIVE S UMMARYa. Charge from
Page 7 and 8: f. Summary of RecommendationsThe BR
Page 9 and 10: available through VLCT. This will s
Page 11 and 12: 2: View City and staff responses to
Page 13 and 14: Building Inspector, half the depart
Page 15 and 16: should undertake this analysis prio
Page 17 and 18: Equipment, Streets, and Wastewater
Page 19 and 20: 2. INTRODUCTIONa. History and Backg
Page 21 and 22: Administration and Finance Subcommi
Page 23 and 24: • Barre: City Clerk/Treasurer als
Page 25 and 26: Key Questions:• What is the FTE s
Page 27 and 28: Population 2010Total Admin/Fin Budg
Page 29 and 30: Budget Process Subcommittee ReportD
Page 31 and 32: CONCLUSIONS & RECOMMENDATIONS:The p
Page 33 and 34: Attachment 1Budget Process Subcommi
Page 35 and 36: Attachment 3NOTE: The following cha
Page 37: committee under a short deadline. T
Page 41 and 42: Five City/Town Comparative Chart- D
Page 43 and 44: Department of Public Works over a p
Page 45 and 46: Health Benefits Subcommittee Report
Page 47 and 48: The following graph looks at change
Page 49 and 50: Matrix Subcommittee ReportJean Olso
Page 51 and 52: Planning Subcommittee ReportJane Ka
Page 53 and 54: Notes from Each Community:Much of t
Page 55 and 56: • Barre City: The Planning Depart
Page 57 and 58: Planning Departments by Town Exhibi
Page 59 and 60: and the City Manager should identif
Page 61 and 62: Public Safety Subcommittee ReportBo
Page 63 and 64: Recommendations:1. Time did not all
Page 65 and 66: nights, the shift coverage is only
Page 67 and 68: Significant Fall Hazards (SigHAZ):
Page 69 and 70: Further rationale for the above sug
Page 71 and 72: Page 71 of 88
Page 73 and 74: 3. Roughly what is the percentage o
Page 75 and 76: Recommendations for DPW1. If Montpe
Page 77 and 78: [END PUBLIC WORKS SUBCOMMITTEE REPO
Page 79 and 80: According to the 2009 National Citi
Page 81 and 82: Table of Montpelier Recreation Depa
Page 83 and 84: during the school year. The Public
Page 85 and 86: Montpelier Barre Brattleboro Middle
Page 87 and 88: RECOMMENDATIONS• Other cities and
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Tax ComparisonsAppendix AMunicipal
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City/TownMedianMunicipalTax BillMun
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available for circuit breaker reduc
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2). PROPERTY TAX TARGET: Do you hav
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considering the adoption of a Capit
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, · 1deductible, combined with a H
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Appendix Budget - 41/1DATE:TO:FROM:
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Other Employee-related increasesHea
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City of Montpelier 2012-13 Goals an
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Date Subcommittee Montpelier Growth
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Data Subcommittee Nine (9) City Fin
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Data Subcommittee - Montpelier Five
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Montpelier 20.1 2/ Annual Report /
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Montpelier 2012 / Annual Report / 2
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DireCt Debt Service Ratios - Debt P
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• In order to make the assessment
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The Center Director conducts betwee
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The Department has initiated the co
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SECTIONRECOMMENDATIONENTITY /INDIVI
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SECTIONRECOMMENDATION8.1 (5) The Fi
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City of Montpelier - Department of
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City of MontpelierUSER: TPROVENCHER
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Asset Value & DepreciationAsset 10P
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REGULARLaboratory Preventative Payr
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City of MontpelierUSER: TPROVENCHER
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Work Order SummaryLabor Part Other
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Work Order SummaryWO#W/SMAINT24902
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Work Order SummaryWO#MHS24899 [COOL
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SCOPE OF WORK PERFORMEDDuring JUNE
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October 2012 Work, StreetsCulvert r
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RIDGE STREET RECONSTRUCTIONMONTPELI
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(0 C4.March 8, 2012I acknowledge th
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APPENDIX Rec 1FEBRUARY 2012 CITY CO
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those together.Mayor Hooper said th
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Council Member Timpone said they ha
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on, so they can perform their fiduc
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in terms of understanding the impli
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