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Home My WebLink AboutCommittee of the Whole - 03 Oct 2022 - Agenda - Pdf CITY OF RENTON AGENDA - Committee of the Whole Meeting 5:45 PM - Monday, October 3, 2022 7th Floor Council Chambers/Videoconference 1. 2023/2024 BIENNIAL BUDGET UPDATE a) Presentation If you would like to attend this week's meeting remotely, you can do so by going to https://us02web.zoom.us/j/86753290028?pwd=M2pOc09HWWNrY05uVnlIWnpGS1E4UT09 Zoom Meeting ID: 867 5329 0028, Passcode: 881839 You can call through Zoom at (253) 215-8782 and use the Meeting ID. 2023- 2024 BUDGET OVERVIEW RENTON CITY COUNCIL OCTOBER 3, 2022 AGENDA ITEM #1. a) BUDGET DELIBERATION SCHEDULE October 3: Committee of the Whole Mayor delivers budget message Proposed budget presented to council October 10: Committee of the Whole Department presentations Council deliberation October 17: Committee of the Whole Department presentations Council deliberation October 17: Regular Council Meeting Public Hearing #2: Revenue sources & proposed budget as required by RCW 35A.34 October 24: Committee of the Whole Department presentations (if needed) Council deliberation/consider draft committee report October 24: Regular Council Meeting Public Hearing #3 November 7: Regular Council Meeting Adopt committee report 1st reading of budget-related legislation November 14: Regular Council Meeting 2nd reading and enactment of all budget-related legislation AGENDA ITEM #1. a) BUDGET DOCUMENT ELEMENTS Executive Summary Renton Results Budget By Department Debt Capital Investment Program (CIP) Budget By Fund Appendix AGENDA ITEM #1. a) 2023-2024 CITYWIDE PROPOSED REVENUE & SOURCES: $584.5 MILLION Fines & Forfeits, 2%Misc, 3% Capital Grants/Intergov, 2% Utility Service Charges, 30% Property Tax, 9% Sales Tax, 14% Utility Tax, 6% B&O Tax, 6% Other Taxes 4% Interfund Services, 22% Develop/Other Svcs, 2%AGENDA ITEM #1. a) 2023-2024 CITYWIDE PROPOSED EXPENDITURES & USES: $581.2 MILLION General Govt, 10% Comm & Econ Develop, 5% Parks & Rec, 7% Police, 18% Equity, Housing & Human Srvcs, 1% Public Works, 44% HR & Risk Mgmt, 8% Other City Services, 7%AGENDA ITEM #1. a) PROPOSED BUDGET BY CITY SERVICE AREA City Service Area 2023 FTE 2023 Operating Exp 2023 Capital Exp 2024 FTE 2024 Operating Exp 2024 Capital Exp Safety & Health 219 59,152,716 - 219 61,448,603 - Representative Government 45 10,944,283 - 45 11,428,580 - Livable Community 82.9 22,581,260 990,000 82.9 23,362,338 1,729,000 Mobility 68.21 16,759,907 3,722,000 68.21 17,427,009 3,239,000 Utilities & Environment 129.49 86,605,627 13,627,131 128.49 89,962,078 15,803,912 Internal Support 105.9 8,584,776 1,807,000 105.9 8,617,700 3,357,000 Total City Service Areas 650.5 204,628,569 20,146,131 649.5 212,246,308 24,128,912 Transfers and Interfund Transactions 56,176,842 59,995,859 Citywide Revenue Estimates 1 2,054,404 1,819,404 Total Other 58,231,246 61,815,263 Total Costs Proposed: 283,005,946 298,190,483 1 Reserve for debt service on SCORE bond Safety & Health, 21% Representative Government, 4% Livable Community, 8% Mobility, 7%Utilities & Environment, 35% Internal Support, 4% Other, 21%AGENDA ITEM #1. a) CITY SERVICE AREA OPERATING COST PER CAPITA PER YEAR Considering the city serves 107,500 residents and approximately 67,806 employees who work in Renton, the operating budget is: •$2,091 per resident per year, just about $5.73 per day •When employment base is included – $1,282 per person per year, $3.51 per day $97 $102 $191 $219 $550 $932 $111 $106 $192 $233 $572 $984 Internal Support Representative Government Mobility Livable Community Safety & Health Utilities & Environment 2024 2023 AGENDA ITEM #1. a) TOTAL PROPOSED GENERAL FUND BUDGET Sales Tax, 30% Other Taxes, 4% Utility Tax, 13% B&O Tax, 13% Other, 13% User Fees, 7% Property Tax, 20% 2023-2024 Proposed General Fund Revenue & Sources: $254.9 million80% taxes Combined property and sales tax represents 50% of general fund revenues Other: 2% Misc. 5% Interfund 3% Court fines 3% Intergovernmental AGENDA ITEM #1. a) Police, 38% Court Services, 3% Public Works, 13%Equity, Housing and Human Services, 3% Parks and Recreation, 13% Capital & Debt Service, 1% General Govt, 19% Com & Econ Dev, 10% 2023-2024 Proposed General Fund Expenditures & Uses: $260.4 million TOTAL PROPOSED GENERAL FUND BUDGET AGENDA ITEM #1. a) GENERAL FUND BY LINE ITEM Personnel, 62% Services & Utilities, 17% Transfer/Capital, 4% Interfund, 16%Supplies/Small Equipment, 1% 2023-2024 General Fund Expenditures & Uses by Line Item: $260.4 million 62% of general fund budget is in personnel related costs 16% internal services include fleet, risk management, information technology, facilities, and communications. Around 46% of these costs are also personnel related for 2023-2024. 17% in services and utilities expenses 6% is intergovernmental services primarily for 911 dispatch (Valley Com) & Jail (SCORE) services 1% in operating supplies and small equipment 4% transfers to capital/debt service AGENDA ITEM #1. a) CAPITAL INVESTMENT PLAN (CIP) $12.2M in capital funding allocations for 2023/2024 Projects include: Roads, sidewalks and bridges Parks and trail restoration Turf drainage at City Hall Playground, sport court and skate park improvements Pavilion remodel IT security enhancements Audio/video equipment $5.9 $2.5 $2.2 $1.6 Transportation Facilities Parks & Recreation IT in millions 2023-2024 CIP Budget by Division AGENDA ITEM #1. a) CAPITAL INVESTMENT PLAN (CIP) 58% of capital funding comes from real estate excise taxes (REET) 31% from taxes 11% from impact mitigation fees - 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 REET B&O/Property Tax Impact Fees CIP by Funding Source 2023 Budget 2024 Budget AGENDA ITEM #1. a) WHERE DOES YOUR TAX DOLLAR GO? Renton receives 9.4 cents for every dollar of property tax paid by our residents AGENDA ITEM #1. a) PRELIMINARY 2023 PROPERTY TAX 14 Proposed Property Tax Levy for 2023 is $25.1 million Adjustments are for: 1% inflation Banked capacity $0 $5 $10 $15 $20 $25 $30 $35 17 18 19 20 21 2022 Est 23 Prop. 24 Prop. 25 Proj. 26 Proj. 27 Proj. 28 Proj.MillionsPast and Projected Property Tax AGENDA ITEM #1. a) SALES TAX DISTRIBUTION •Renton’s economy generates around $359 million in sales taxes per year •City’s share is 9.5% 15 State, 64% City, 9.5% Sound Transit, 14% K.C. Transit, 9% K.C. General, 2.5%Criminal Justice, 1%AGENDA ITEM #1. a) B&O TAX/BUSINESS LICENSES 16 $- $5 $10 $15 $20 $25 2014 2015 2016 2017 2018 2019 2020 2021 2022 Est. 2023 Proj. 2024 Proj. 2025 Proj. 2026 Proj. 2027 Proj. 2028 Proj.MillionsBusiness License and B&O Tax Collections Business License B&O Key changes: Low tax rates of 0.07% for retail and 0.121% for all other Maximum amount paid is capped at $9 million in 2023, $11 million in 2024, $12 million in 2025 with a 75% reduction for any tax over $12 million AGENDA ITEM #1. a) LONG RANGE FINANCIAL PROJECTION PRELIMINARY 2019-2028 $- $20.0 $40.0 $60.0 $80.0 $100.0 $120.0 $140.0 $160.0 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Operating Revenue Base Operating Expenditure Ending Fund Balance AGENDA ITEM #1. a) BUDGET RELATED LEGISLATION Property Tax Levy Ordinances Utility Rate Adjustment Ordinances Various User Fee Adjustments (Fee Schedule and Resolution) 2023-2024 Budget Ordinance AGENDA ITEM #1. a)