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City of Chattanooga Ron Littlefield, Mayor Five -Year Capital Improvements Plan Fiscal Years 2010 - 2014

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City of Chattanooga Ron Littlefield, Mayor. Five -Year Capital Improvements Plan Fiscal Years 2010 - 2014. Budget Prioritization. Enterprise Industrial Park/Volkswagen Infrastructure/Road Improvements Interceptor Sewer Upgrade New Fire Halls Fleet Replacement Technology Upgrade. - PowerPoint PPT Presentation

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Page 1: City of Chattanooga Ron Littlefield, Mayor

City of ChattanoogaRon Littlefield, Mayor

Five -Year

Capital Improvements Plan

Fiscal Years 2010 - 2014

Page 2: City of Chattanooga Ron Littlefield, Mayor

04/21/23 2

Budget Prioritization

Enterprise Industrial Park/Volkswagen Infrastructure/Road Improvements Interceptor Sewer Upgrade New Fire Halls Fleet Replacement Technology Upgrade

Page 3: City of Chattanooga Ron Littlefield, Mayor

04/21/23 3

Total Five Year Request

Project Name 09/10 Total

Request 10/11 Total

Request 11/12 Total

Request 12/13 Total

Request 13/14 Total

Request Total General Government & Agencies

$ 11,443,641

$ 8,625,246 $ 922,500 $ 850,000 $ 805,000

Total Public Works General Fund 23,743,383 26,880,500 24,724,250 25,468,000 23,727,000 Total Public Works General ESIP 13,756,000 1,000,000 5,520,430 5,520,430 1,000,000 Total Appropriation to IDB 15,381,968 0 0 0 0 Total Parks & Recreation 8,993,900 15,455,500 5,138,000 1,105,000 315,000 Total EAC 2,650,000 200,000 200,000 200,000 200,000 Total Police Department 20,914,500 1,497,100 18,330,550 976,600 986,600 Total Fire Department 13,689,881 1,821,800 2,853,350 2,146,000 3,465,000 Total Information Services 2,100,000 850,000 850,000 600,000 600,000

Total General Fund

$112,673,27$112,673,27

33

$56,330,146$56,330,146

$58,539,080 $58,539,080

$36,866,030 $36,866,030

$31,098,600 $31,098,600        

Total Water Quality Fund 2,220,126 2,025,000 3,775,000 3,775,000 3,775,000Total Solid Waste Fund 1,245,000 6,525,140 899,077 515,000 961,000Total ISS Construction Trust Fund 17,926, 334 12,483,653 16,633,653 15,533,653 0

Total Other Funds

$21,391,460

$21,033,793

$21,307,730

$19,823,653

$4,736,000        

Total All Funds

$134,064,73

3

$77,363,939

$79,846,810

$56,689,683

$35,834,600

Page 4: City of Chattanooga Ron Littlefield, Mayor

4

PROPOSED FY 2010 ALLOCATION

Project Name

09/10 Total Recommende

d CITY

SOURCES EXTERNAL SOURCES

Interfund Reallocation

s

Total General Government & Agencies

$ 5,246,850

$ 4,755,637

$ 400,000

$91,213

Total Public Works General Fund

7,072,603 3,766,598 3,282,000

24,005

Total Public Works General ESIP

13,556,000 2,500,000 -

11,056,000

Total Appropriation to IDB

12,277,968 12,277,968 -

-

Total Parks & Recreation

700,000 200,000 500,000

-

Total EAC -

- -

-

Total Police Department 252,000 178,558 73,442

-

Total Fire Department

4,960,100 3,308,945 -

1,651,155

Total Information Services

3,600,000 2,100,000 1,500,000

-

Total General Fund $

47,665,521 $29,087,706 $5,755,442

$12,822,37

3        

Total Water Quality Fund -

- -

-

Total Solid Waste Fund -

- -

-

Total ISS Construction Trust Fund

10,804,000

10,804,000

-

Total Other Funds

$10,804,00

0

$10,804,000

-        

Total All Funds

$58,469,52

1

$39,891,706 $5,755,442

$12,822,37

3

Page 5: City of Chattanooga Ron Littlefield, Mayor

04/21/23 5

FY10 MAJOR PROJECTS ROAD/RAILROAD IMPROVEMENTS 8,593,598

Hamill Road Improvements 1,500,000 Goodwin Drive 250,000 ARRA Paving 1,565,000 N. Orchard Knob 200,000 Old Hixson Pike 800,000 Rossville Blvd Streetscape 637,500 Riverwalk/Riverstreet Extension 52,098 MPO-3rd & 4th St. Extension 165,000 No. & So. Terrace @ North Moore Rd 200,000 3rd St. Parking lot @ Warner Pk. 100,000 ESIP Intersections 1,000,000 ESIP Railway Lines 1,500,000 ARRA Signal System Upgrade 624,000

Page 6: City of Chattanooga Ron Littlefield, Mayor

04/21/23 6

FY10 MAJOR PROJECTS

SIDEWALKS 355,000 Miscellaneous P/W Projects 374,005

Transportation Planning Study 100,000 Riverbank Stabilization 24,005 Annexation Costs 250,000

APPROPRIATION TO IDB 12,278,000 6.2 Local Infrastructure 9,025,000 9.5 Welcome Center 3,000,000

Misc.(insurance, audit, FTZ) 253,000

Page 7: City of Chattanooga Ron Littlefield, Mayor

04/21/23 7

FY10 MAJOR PROJECTS cont’d.

INTERCEPTOR SEWER 10,804,000 FIRE DEPARTMENT 4,960,100

Two new Fire Halls for annexation 3,300,100 Apparatus for new Stations 1,075,000 Fire Hydrants in newly annexed areas 585,000

INFORMATION SERVICES 3,600,000 Security Cameras 100,000 Mesh Network 3,000,000 Police Laptops 500,000

GENERAL SERVICES 4,140,000 Fleet Lease Program 3,000,000 Police Precinct at CCRC 600,000 Brownsfield Projects 540,000

CARTA 334,000

Page 8: City of Chattanooga Ron Littlefield, Mayor

04/21/23 10

FY10 Funding Sources

CITY 52,714,079 General Fund 8,761,261

Economic Development 2,999,500

Interceptor Sewer Reserves 10,804,000

Economic Dev. Recovery Facility Bonds 6,813,000

General Obligation Bonds 6,713,945

Other City Sources 16,622,373

EXTERNAL SOURCES 5,755,442 TOTAL FUNDING SOURCES 58,469,521

Page 9: City of Chattanooga Ron Littlefield, Mayor

04/21/23 11

Other City Sources

Narcotics Fund 500,000

2001/2003 Bond Interest 300,000

Fleet Lease Program 3,000,000

Reappropriation of P413 Funds 12,531,000

Reappropriation of P414 Funds 267,368

Bond Fund 24,005

Total Other City Sources 16,622,373

Page 10: City of Chattanooga Ron Littlefield, Mayor

04/21/23 12

External Funding Sources

ARRA Grant thru State/Stimulus 4,189,000

EPA/US Park Service 500,000

State of Tennessee 638,000

State of TN TNCare Reserves 73,442

Community Development Block Grants 355,000

Total External Funding Sources 5,755,442

Page 11: City of Chattanooga Ron Littlefield, Mayor

04/21/23 13

Capital Improvements Plan Fiscal Years 2010 - 2014

Project Name 09/10 Total

Recommended 10/11 Total

Recommended

11/12 Total Recommende

d

12/13 Total Recommende

d

13/14 Total Recommende

d Total General Government & Agencies 5,246,850 1,165,000 922,500 850,000 805,000 Total Public Works General Fund 7,072,603 17,505,500 17,205,500 9,538,000 23,727,000 Total Public Works General ESIP 13,556,000 1,000,000 5,520,430 5,520,430 1,000,000 Total IDB NR08 Fund 12,277,968 0 0 0 0 Total Parks & Recreation 700,000 4,623,500 2,953,000 1,105,000 315,000 Total EAC 0 200,000 200,000 200,000 200,000 Total Police Department 252,000 252,000 252,000 252,000 252,000 Total Fire Department 4,960,100 1,688,300 2,130,000 2,146,000 2,465,000 Total Information Services 3,600,000 850,000 850,000 600,000 600,000

Total General Fund

47,665,521

27,284,300

30,033,430

20,211,430

29,364,000

Total Water Quality Fund 0 2,025,000 3,775,000 3,775,000 3,775,000Total Solid Waste Fund 0 6,525,140 250,000 515,000 961,000Total ISS Construction Trust Fund 10,804,000 11,483,653 16,633,653 15,533,653 0

Total Other Funds

10,804,000

20,033,793

20,658,653

19,823,653

4,736,000

Total All Funds

58,469,521

47,318,093

50,692,083

40,035,083

34,100,000

Page 12: City of Chattanooga Ron Littlefield, Mayor

04/21/23 14

Total General Fund Debt Service 2001 – 2010

0

5,000,000

10,000,000

15,000,000

20,000,000

25,000,000

Actual 6,522,170 8,393,234 9,157,548 10,893,823 10,971,911 13,528,915 14,667,338 17,203,990 15,315,974 20,840,883

FY2001 FY2002 FY2003 FY2004 FY2005 FY2006 FY2007 FY2008 2009 2010

Page 13: City of Chattanooga Ron Littlefield, Mayor

04/21/23 15

Outstanding Debt

224

417 432 415 446 437

41 77 98 96 134 1300

200

400

600

Millions

2000 2006 2007 2008 2009 2010

Net Debt Gross Debt

Page 14: City of Chattanooga Ron Littlefield, Mayor

Page 16

Current Debt Profile

The City has traditionally retired its general obligation debt at a rapid rate. The City will retire approximately 33.9% of outstanding debt within 5 years, approximately 62.5% within 10 years and 86.7% within 15 years.

Fiscal Principal

Year Principal Interest Total Retired

2010 11.634 5.693 17.327 7.8%

2011 11.045 4.817 15.862 15.3%

2012 9.662 4.469 14.131 21.8%

2013 9.132 4.159 13.291 27.9%

2014 8.876 3.861 12.737 33.9%

2015 9.110 3.558 12.668 40.1%

2016 9.143 3.236 12.379 46.2%

2017 8.468 2.929 11.398 51.9%

2018 8.758 2.636 11.394 57.8%

2019 6.981 2.335 9.316 62.5%

2020 6.968 2.092 9.060 67.2%

2021 7.221 1.890 9.111 72.1%

2022 7.376 1.621 8.996 77.1%

2023 7.527 1.362 8.889 82.1%

2024 6.713 1.082 7.794 86.7%

2025 5.912 0.815 6.726 90.6%

2026 6.052 0.552 6.603 94.7%

2027 3.307 0.279 3.586 96.9%

2028 2.270 0.156 2.426 98.5%

2029 2.270 0.052 2.322 100.0%

Total 148.423 47.593 193.693 (1) Does not include Hotel-Motel Tax debt or CDRC Lease.

Outstanding G. O. Debt (1)

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

0.0

5.0

10.0

15.0

20.0

2010 2012 2014 2016 2018 2020 2022 2024 2026 2028

Debt S

erv

ice ($ M

illions)

Outstanding General Obligation Debt

Principal Interest % Retired Principal

Page 15: City of Chattanooga Ron Littlefield, Mayor

Page 17

Current Debt Profile

The following charts and tables are profiles of the City’s self-supporting debt.

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

0.0

5.0

10.0

15.0

2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 2030

Deb

t Ser

vice

($ M

illio

ns)

Outstanding Self-Supporting General Obligation Debt

Principal Interest % Retired Principal

Fiscal Principal

Year Principal Interest Total Retired

2010 3.601 9.432 13.033 2.2%

2011 3.844 9.231 13.075 4.6%

2012 4.132 9.015 13.147 7.2%

2013 4.409 8.777 13.186 9.9%

2014 4.690 8.524 13.214 12.8%

2015 5.011 8.254 13.265 15.9%

2016 5.366 7.962 13.328 19.2%

2017 5.735 7.650 13.386 22.8%

2018 6.109 7.318 13.427 26.5%

2019 6.523 6.954 13.477 30.6%

2020 6.970 6.566 13.536 34.9%

2021 7.438 6.151 13.588 39.5%

2022 7.938 5.697 13.635 44.4%

2023 8.475 5.214 13.690 49.6%

2024 9.036 4.707 13.742 55.2%

2025 9.618 4.173 13.791 61.2%

2026 10.249 3.605 13.853 67.5%

2027 10.908 3.000 13.907 74.2%

2028 11.606 2.356 13.963 81.4%

2029 12.361 1.661 14.022 89.1%

2030 13.171 0.912 14.083 97.2%

2031 4.515 0.113 4.628 100.0%

Total 161.707 127.272 288.978

Outstanding Self-Supporting G.O.Debt

CDRC Lease and Hotel-Motel Tax Debt

Page 16: City of Chattanooga Ron Littlefield, Mayor

Page 18

Current Debt Profile

The following charts and tables are profiles of the City’s enterprise debt.

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

0.0

5.0

10.0

15.0

20.0

25.0

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027

Debt

Serv

ice ($

Milli

ons)

Outstanding Enterprise Debt

Principal Interest % Retired Principal

Fiscal Principal

Year Principal Interest Total Retired

2010 13.962 5.325 19.287 10.3%

2011 13.263 4.728 17.991 20.1%

2012 11.409 4.178 15.587 28.5%

2013 11.650 3.668 15.318 37.1%

2014 10.692 3.190 13.882 45.0%

2015 10.940 2.727 13.667 53.1%

2016 9.288 2.289 11.577 59.9%

2017 9.677 1.876 11.554 67.1%

2018 10.081 1.447 11.528 74.5%

2019 8.875 1.040 9.915 81.1%

2020 3.942 0.786 4.728 84.0%

2021 3.817 0.673 4.490 86.8%

2022 3.915 0.548 4.462 89.7%

2023 4.015 0.422 4.437 92.7%

2024 4.127 0.290 4.417 95.7%

2025 3.740 0.156 3.895 98.5%

2026 1.543 0.068 1.612 99.6%

2027 0.536 0.012 0.548 100.0%Total 135.472 33.424 168.895

Outstanding Enterprise Debt

Page 17: City of Chattanooga Ron Littlefield, Mayor

(000s) 2004 2005 2006 2007 2008 2009*

Total Net Outstanding Debt 75,523$ 75,730$ 77,122$ 98,602$ 96,297$ 134,038$ Excess Debt Capacity 248,195 256,195 308,923 298,214 308,579 282,911 Maximum Debt Capacity @ 10% - City Practice 323,718 331,925 386,045 396,816 404,876 416,948

Debt as a % of Assessed Value 2.33% 2.28% 2.00% 2.48% 2.38% 3.21%Assessed Value 3,237,184$ 3,319,249$ 3,860,453$ 3,968,157$ 4,048,761$ 4,169,484$

* Unaudited

Fiscal Years Ended June 30

Current Debt Profile

Page 18: City of Chattanooga Ron Littlefield, Mayor

Unreserved Fund Balance as a % of General Fund Expenditures

04/21/23 20

0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

30.00%

35.00%

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Unreserved Fund Balance as a % of General Fund Expenditures

Aaa Aa

Positive

Benchmark: Aaa 19%; Aa 21%

Page 19: City of Chattanooga Ron Littlefield, Mayor

0%

5%

10%

15%

20%

25%

30%

35%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

General Fund Balance / General Fund Operating Revenues(including Transfers In)

Chattanooga Strong Low

General Fund Balance as a % of General Fund Operating Revenue (Including Transfers In)

Page 20: City of Chattanooga Ron Littlefield, Mayor

0%

5%

10%

15%

20%

25%

30%

35%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

General Fund Balance / General Fund Operating Expenditures(including Transfers Out)

Chattanooga Strong Low

General Fund Balance as % of General Fund Operating Expenditure (Including Transfers Out)

Page 21: City of Chattanooga Ron Littlefield, Mayor

Net GO Debt as % of Assessed Value

04/21/23 25

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%

7.00%

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Net GO Debt as % of Assessed Value

Moderate Low

Positive

Page 22: City of Chattanooga Ron Littlefield, Mayor

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Net G. O. Debt / Market Value of Taxable Property

Chattanooga Low High

Net GO Debt as % of Market Value of Taxable Property

Page 23: City of Chattanooga Ron Littlefield, Mayor

$0 

$500 

$1,000 

$1,500 

$2,000 

$2,500 

$3,000 

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Overall Debt Per Capita

Chattanooga Low High

Overall Debt Per Capita

Page 24: City of Chattanooga Ron Littlefield, Mayor

$-

$500 

$1,000 

$1,500 

$2,000 

$2,500 

$3,000 

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Net Debt Per Capita

Chattanooga Low High

Net Debt Per Capita

Page 25: City of Chattanooga Ron Littlefield, Mayor

0%

1%

2%

3%

4%

5%

6%

7%

8%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Per Capita Debt / Per Capita Income

Chattanooga Low High

Net & Overlapping Debt per Capita as % of Per Capita Income

Page 26: City of Chattanooga Ron Littlefield, Mayor

Debt Service Fund as a % of General Fund Expenditure (Excluding Transfers Out)

04/21/23 31

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

14.00%

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Debt Service as a % of General Fund Expenditures

Aaa Aa

Positive

Page 27: City of Chattanooga Ron Littlefield, Mayor

0%

2%

4%

6%

8%

10%

12%

14%

16%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Debt Service / General Fund Operating Expenditures(including Transfers Out)

Chattanooga Low High

Debt Service Fund as % of General Fund Operating Expenditures (Including Transfers Out)

Page 28: City of Chattanooga Ron Littlefield, Mayor

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Overlapping Tax/Market Value of Taxable Property

Chattanooga Low High Very High

Overlapping tax as % of Market value of Taxable Property

Page 29: City of Chattanooga Ron Littlefield, Mayor

ISS ADDITIONAL DEBT SERVICE COVERAGE (ADS) RATIOS

0.00

0.20

0.40

0.60

0.80

1.00

1.20

1.40

1.60

1.80

Actual 1.52 1.53 1.45 1.41 1.19 1.07 1.22 1.24 1.22 1.11 1.29 1.34 1.23 1.13 1.17

FY97 FY98 FY99 FY00 FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY10

ADS ratio is current year revenues available for debt service divided by current year total debt service. Indicates the financial margin to meet total ADS with current revenues available for debt service (a key ratio per Fitch) Fitch benchmark is 1.8 “A” and 2.3 for “AA”. Days cash on hand, another key ratio is 535 days vs. 332 days for “AA” rated systems. Indicates financial flexibility.

Page 30: City of Chattanooga Ron Littlefield, Mayor

Interceptor Sewer Key Ratios

3-Year Historical Average ADS Coverage

0.0

0.5

1.0

1.5

2.0

2.5

3.0

2006 2007 2008 2009

X Co

vera

ge

City's ISS AAA Median AA Median A Median All credits

Most recent three-year historical average of annual revenues available for debt service divided by respective debt service for the year. This ratio indicates the historical trend in additional debt service coverage.

Page 31: City of Chattanooga Ron Littlefield, Mayor

Interceptor Sewer Key Ratios

Current-year revenues available for debt service divided by current-year debt service. This ratio indicates the financial margin to meet current annual debt service with current revenues available for debt service.

Current ADS Coverage

0.0

1.0

2.0

3.0

4.0

5.0

2006 2007 2008 2009

X Co

vera

ge

City's ISS AAA Median AA Median A Median All credits

Page 32: City of Chattanooga Ron Littlefield, Mayor

Interceptor Sewer Key Ratios

Days Cash on Hand - Current

200250300350400450500550600

2009

# of

Day

s

City's ISS AAA Median AA Median A Median All  credits

Current unrestricted cash and investments plus any restricted cash and investments (if available for general system purposes), divided by operating expenditures minus depreciation, divided by 365. This ratio indicates financial flexibility.

Page 33: City of Chattanooga Ron Littlefield, Mayor

04/21/23 38

Questions & Comments