2012 Financial Plan (Public Hearing - March 5, 2012)

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2012 FINANCIAL PLAN

PUBLIC HEARING

March 5, 2012

Dean Hammond, Treasurer & GM of

Corporate Services

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AGENDA

2012 Operating Revenues / Expenditures

2012 Capital Expenditures

Debt Position & Debt Ratios

Residential Tax Impact

Utilities / Utilities Capital Expenditures

Next Steps

Expense Management

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PROPOSED OPERATING /

UTILITIES BUDGETS

General Revenues / Expenditures $73.1m

Utilities Revenues / Expenditures $17.7m

Total Budget $90.8m

4.44% Mill Rate Decrease From 2011

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REVENUES - $73.1m

$36.9 , 50%

$20.2 , 28%

$11.7 , 16%

$3.2 , 4% $1.1 , 2%

Property Taxes

Government Transfers

User Fees and Sales ofGoods

Permits, Licenses, andFees

Other Income

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EXPENSES - $73.1m

$41.5 , 57%

$7.5 , 10%

$7.4 , 10%

$5.5 , 7%

$4.1 , 6%

$2.9 , 4%

$2.6 , 4% $1.6 , 2%Salaries, Wages, &Benefits

Reserve Appropriations

Contract Services

Grants and Contributions

Materials, Supplies, &Equipment Purchases

Debt Servicing Costs

Utilities

Capital Contributions

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EXPENSES - $73.1m

Protective Services Salaries, $0.26

Operations Salaries, $0.17

Reserve Appropriations,

$0.10

Contracted Services, $0.10

Development Services Salaries,

$0.08

Grants and Contributions,

$0.07

Administrative Salaries, $0.06

Materials, Supplies, & Equipment

Purchases, $0.06

Debt Servicing Costs, $0.04

Utilities, $0.04 Capital Contributions,

$0.02

Where Every Dollar of Tax Goes...

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2012 CAPITAL EXPENDITURE

HIGHLIGHTS (Reserve Funded)

2012 Total Capital Upgrades $9.4m

8TH Street Bridge Analysis $300k

Centennial Auditorium Door Replacements $80k

Landfill Excavation & Liner $275k

Vehicle Replacements

- Four Loaders $1.0m

- Airport Fire Truck $650k

- Five Dump Trucks $735k

- Other Vehicles (24) $1.65m

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2012 CAPITAL EXPENDITURE

HIGHLIGHTS (Reserve Funded)

Fire Equipment $336k

Fire Pumper Truck / Ladder Refurbish $550k

Sidewalks / Turn Signals / Kirkaldy Dr.

Upgrades

$435k

Parks Upgrades $115k

Police Equipment $491k

Police Vehicles (7 Replacements) $342k

Rec Centre Upgrades $225k

Sportsplex Upgrades $117k

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2012 CAPITAL EXPENDITURE

HIGHLIGHTS (Reserve Funded)

Transit Auto-Fare System $500k

Handi-Transit Bus Replacements (Four) $565k

Drainage Projects $475k

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2012 CAPITAL EXPENDITURE

HIGHLIGHTS (General Fund)

2012 Total Capital Upgrades $589k

Expand Community Alerting System $42k

Walkways / Trails Expansions $100k

Black Property Land Use Study $150k

Drainage Project – 34th Street $167k

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DEBT

2012 Debt Position Decreased Slightly.

* Including Police Station

2012 General (Tax Supported) Debt* $30.8m

2012 Utility Rate Supported Debt $4.7m

2012 Total Debt $35.5m

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DEBT

7.0%

20.0%

1.8%

5.4%

0%1%2%3%4%5%6%7%8%9%

10%11%12%13%14%15%16%17%18%19%20%21%22%

Debt / Assessment Debt Service Costs / City Revenues

%

2012 Debt Position

Actual City Debt Ratio

Maximum Allowable Debt Ratio

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RESIDENTIAL TAX IMPACT

Municipal Tax Payer Impacts 2011

Budget

2012

Budget

Assessed Value* $ 200,000 $ 219,600

Portioning @ 45% $ 90,000 $ 98,820

Municipal Mill Rate 19.969 19.082

Municipal Tax Due $ 1,797 $ 1,886

Change due to Assessment* $ 176.13

Change due to Mill Rate $ (87.62)

Total Change from 2011 $ 88.51

Percentage Increase 4.9%

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RESIDENTIAL TAX IMPACT

School Division Tax Payer Impacts 2011

Budget

2012

Budget

Assessed Value* $ 200,000 $ 219,600

Portioning @ 45% $ 90,000 $ 98,820

Municipal Mill Rate 16.270 15.375

Municipal Tax Due $ 1,464 $ 1,519

Change due to Assessment* $ 143.50

Change due to Mill Rate $ (88.43)

Total Change from 2011 $ 55.07

Percentage Increase 3.8%

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RESIDENTIAL TAX IMPACT

Combined Municipal & School

Division

2011

Budget

2012

Budget

Change

Municipal Tax Due $ 1,797 $ 1,886 $ 88.51

School Division Tax Due $ 1,464 $ 1,519 $ 55.07

less: Homeowner Rebate $ (700) $ (700) $ -

Total Taxes Due $ 2,562 $ 2,705 $ 143.58

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2012 UTILITIES

Utilities Budget decreased $400k to $17.7m

Treasury & Engineering Currently Undertaking

Rate Structure Analysis

Anticipating PUB Proposal For Q3 which will

be incorporated in 2013

New Rates Will Incorporate Phase III of

Combined Wastewater Treatment Facility

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2012 CAPITAL EXPENDITURE

HIGHLIGHTS (UTILITY RESERVE)

2012 Total Utility Reserve Capital Upgrades $8.6m

WTF Emergency Water Supply $1.5m

3rd Street Dam Replacement $1.0m

WTF Upgrades $250k

Construction Contribution for IWWTF $5.7m

Large Sewer Camera $100k

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2012 CAPITAL EXPENDITURE

HIGHLIGHTS (UTILITY FUNDED)

2012 Total Utility Funded Capital Upgrades $800k

Watermain Replacements $300k

Water Treatment Facility Master Plan Study $100k

Water Treatment Facility Intake Structure $250k

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NEXT STEPS

Adoption of Financial Plan and 1st

Reading of Tax Levy By-law March 5th

2nd & 3rd Readings of Tax Levy By-law

March 19th

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2012 / 2013 EXPENSE

MANAGEMENT 3% Goal

Lean Projects

Opportunities List (28)

New / Expanded Revenues

Sustainable Cost Reduction Measures

Budget Buddies

Vacancy Management / Succession Planning /

Long-Term Labour Strategies

Performance Management

Budgeting Process

Separate Capital, Fleet, & Operating Budgets

Budget Reviews / Budget Buddies

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Questions?