2019 Financial Plan Monday, April 29 th , 2019 at 7:00 pm
Our Mission The City of Selkirk provides infrastructure and services that sustain a safe and caring community and a vibrant regional hub for commerce, culture and recreation. We are the responsible stewards of community resources, and the catalyst for partnerships that enhance opportunity and quality of life for all citizens.
Agenda • 2018 Actual to Budget Highlights • Financial Planning Process • 2019 Budget Overview • 2019 Reserve & Long Term Debt Analysis • 2019 Budget Key Highlights • 2019 Tax Impact • Where It All Comes Together • Questions?
2018 General Operating Fund (Actual to Budget) 2018 2018 $ % Actual Budget Variance Variance REVENUE Net Municipal Taxes 11,418,185 11,416,114 2,071 0% Other Revenue 6,747,099 6,331,872 415,227 7% Transfer From Reserves 3,254,227 3,722,015 (467,788) -13% TOTAL REVENUE 21,419,511 21,470,001 (50,490) 0% EXPENDITURES Services Expenditures 12,335,497 13,647,565 (1,312,068) -10% Capital Expenditures 4,000,521 4,644,731 (644,210) -14% Debenture Debt Payments 791,358 791,358 0 0% Transfer To Reserves 2,904,520 2,326,101 578,419 25% Allowance For Tax Assets 42,949 60,246 (17,297) -29% TOTAL EXPENDITURES 20,074,845 21,470,001 (1,395,156) -6% NET OPERATING SURPLUS 1,344,666 0 1,344,666
2018 Utility Operating Fund (Actual to Budget) 2018 2018 $ % Actual Budget Variance Variance REVENUE Water and Sewer Revenue 3,934,249 3,985,180 (50,931) -1% Other Revenue 3,751,852 25,503,739 (21,751,887) -85% Transfer From Reserves 2,184,262 2,323,540 (139,278) -6% TOTAL REVENUE 9,870,363 31,812,459 (21,942,096) -69% EXPENDITURES Water Supply 2,138,621 2,109,491 29,130 1% Sewage Collection and Disposal 591,583 778,525 (186,942) -24% Capital Expenditures 5,319,991 27,053,672 (21,733,681) -80% Transfer To Reserves 1,213,699 1,460,171 (246,472) -17% Debenture Debt Charges 410,600 410,600 0 0% TOTAL EXPENDITURES 9,674,494 31,812,459 (22,137,965) -70% NET OPERATING SURPLUS 195,869 0 195,869
Business Planning Process Community Council Vision Input Tactical Plan Environmental Conditions Business Budget Planning Community Needs Monthly Financial School Division Financial Plan Tax Instructions Reporting
2019 Budgeted Revenue Licenses Permits, Other Rentals and 3% Development Fees (3% for 2018 ) 1% (1% for 2018) Sale of Goods and Services 5% (6% for 2018) Grants Municipal 22% Taxation (19% for 2018) 54% (48% for 2018) Transfer from Reserves 15% (17% for 2018)
2019 Planned Spending Capital Expenditures 22% Debt Payments (22% in 2018) 3% (4% in 2018) Services Expenditures 63% (63% in 2018) Growing Reserves 12% (11% in 2018)
2019 Capital Expenditure By Type *Equipment Buildings and **Land 3% Building 9% (3% in 2018 ) Improvements (2% in 2018 ) Roads 4% 1% (9% in 2018) (3% in 2018 ) ***Water and Sewer Networks 83% (83% in 2018) * Includes: Information Technology, Machinery & Equipment, Road Equipment, and Vehicles ** Includes: Land, and Land Improvements *** Includes: Buildings & Building Improvements, Equipment, Land, and Land Improvements
2019 General Operating Fund (Budget to Budget) 2019 2018 $ % Budget Budget Variance Variance REVENUE Net Municipal Taxes 11,893,038 11,416,114 476,924 4% Other Revenue 7,267,042 6,331,872 935,170 15% Transfer From Reserves 3,283,895 3,722,015 (438,120) -12% TOTAL REVENUE 22,443,975 21,470,001 973,974 5% EXPENDITURES Services Expenditures 14,059,717 13,647,565 412,152 3% Capital Expenditures 4,916,219 4,644,731 271,488 6% Debenture Debt Payments 698,095 791,358 (93,263) -12% Transfer To Reserves 2,709,730 2,326,101 383,629 16% Allowance For Tax Assets 60,214 60,246 (32) 0% TOTAL EXPENDITURES 22,443,975 21,470,001 973,974 5% NET OPERATING SURPLUS 0 0 0
2019 Utility Operating Fund (Budget to Budget) 2019 2018 $ % Budget Budget Variance Variance REVENUE Water and Sewer Revenue 5,080,657 3,985,180 1,095,477 27% Other Revenue 22,631,897 25,503,739 (2,871,842) -11% Transfer From Reserves 1,724,286 2,323,540 (599,254) -26% TOTAL REVENUE 29,436,840 31,812,459 (2,375,619) -7% EXPENDITURES Water Supply 2,146,402 2,109,491 36,911 2% Sewage Collection and Disposal 766,201 778,525 (12,324) -2% Capital Expenditures 23,827,323 27,053,672 (3,226,349) -12% Transfer To Reserves 2,379,577 1,460,171 919,406 63% Debenture Debt Charges 317,337 410,600 (93,263) -23% TOTAL EXPENDITURES 29,436,840 31,812,459 (2,375,619) -7% NET OPERATING SURPLUS 0 0 0
2019 Reserve Balance 2018 2019 2019 Reserve Name Ending Balance Change Ending Balance Building Maintenance and Repairs Reserve 766,945 26,371 793,316 Capital Improvement Reserve 785,980 435,383 1,221,363 Computer/Technology Reserve 105,191 (65,808) 39,383 Economic Incentive Reserve 70,826 1,735 72,561 Fire Equipment and Building Reserve 703,257 (308,049) 395,208 Fire Hall Expansion Reserve 0 0 0 Gas Tax Reserve 22,521 (22,521) 0 General Reserve 2,798,312 68,559 2,866,871 Land Acquisition Reserve 1,787,326 (406,990) 1,380,336 Municipal Flood Protection - Dyke Enhancement 31,044 760 31,804 Reserve Off-Street Parking Reserve 260,789 30,978 291,767 Paratransit Reserve 61,007 (61,007) 0 Parks Recreation and Culture Facilities Reserve 353,428 (115,501) 237,927 Parks and Recreation Facilities Development Reserve 25,420 103,073 128,493 Public Works Machinery and Equipment Reserve 517,955 (48,781) 469,174 Special Events Reserve 45,835 1,123 46,958 Special Projects Reserve 129,948 (53,373) 76,575 Transit Service Reserve 414,028 (22,395) 391,633 Utility Nutrient Removal Reserve 0 696,121 696,121 Water and Sewer Reserve 4,921,981 95,813 5,017,794 Total 13,801,793 355,491 14,157,284
2019 Long Term Debt Analysis • 2019 Final City at Large Taxable Assessment for the City of Selkirk is $538,647,580 • Provincial regulation for the Municipal borrowing limit is 7% of the taxable assessment which equates to $37,705,331 % of Borrowing Description Amount Limit 2018 Long Term Debt $ 6,340,919 16.8% 2019 Existing Debt Principal Payment (431,186) -1.1% Proposed 2019 Borrowing Implement Downtown Renewal Strategy - Phase 2 Reconstruction 833,334 Fire Hall Expansion Project 3,171,011 Stormwater Retention Pond in the Industrial Park 950,000 Construction of a West End Lift Station, Forcemain and Trunk Line 1,500,000 New Waste Water Treatment Plant (WWTP) Construction 13,859,004 2019 Projected Long Term Debt $ 26,223,082 69.5%
2019 Budget Key Highlights (1) 1. A Vibrant, Safe and healthy community Project Title 2019 Budget Annie West Development Plan * $60,000 Economic Incentive Program Grant for downtown renewal $35,000 Feasibility Study – Selkirk Recreation Complex Enhancements $75,000 Heritage and Culture Coordinator $57,805 Implement Downtown Renewal Strategy - Phase 1 (Revitalization of Manitoba Avenue - $65,000 conceptual/engineering design) * Implement Downtown Renewal Strategy - Phase 2 Reconstruction $2,500,000 Increase Park and Rec Facility Reserve $75,000 Install Branded Park Signage * $18,527 Multi-Use Facility/Community Hall - Feasibility Study $75,000 North Entrance Park Project * $11,000 Off-Leash Dog Park * $20,000 Parks Strategy * From Existing Resources Replacement of Campground Fire Pits $4,000 Strategy Plan Update $25,000 Table and Chair Replacement in the Rec Centre Banquet Hall $3,500 * 2018 Carry Forward
2019 Budget Key Highlights (2) 2. A strong and stable local economy Project Title 2019 Budget Business Park Development - Phase II (General Portion) $50,000 Business Park Development - Phase II (Utility Portion) $50,000 Construction of a Storm Retention Pond in Industrial Park * $592,583 Data Environics $35,000 Expression of Interest to explore and create ideas for developing the City owned 13-acre From Existing Resources land (Roll No. 269300.000 – along PTH 4) Purvis Boulevard Sewer and Water Extensions $40,000 Vaughan Avenue Sewer and Water Extensions $386,084 * 2018 Carry Forward
2019 Budget Key Highlights (3) 3. Safe and Sustainable infrastructure Project Title 2019 Budget Alarm System Upgrade for Civic Office $10,000 Construction of a West End Lift Station, Forcemain and Trunk Line * $3,800,000 Construction of Manitoba Ave. Active Transportation Pathway Phase 1 * $110,000 Design West End Lift Station, Forcemain and Trunk Line * $150,000 Manitoba Avenue Sewer Lining $90,000 Manitoba Avenue Sidewalk Extension $110,000 One-time lump-sum payments for properties encroached by the City's sidewalk along $15,000 Main Street Pool Filter Replacement and Installation of Isolation Valve $16,000 Rec Centre Purchase of a RO System $55,000 Robinson Ave Sidewalk $30,000 SFD - Aerial Truck * $364,500 Solar Crosswalk Lights At Jemima and Manitoba $10,000 Solar Crosswalk Lights At Morris and Main $14,000 * 2018 Carry Forward
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