HomeMy WebLinkAboutItem 8.2 1996-97BudgetStudy (2)
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File # DaJC3J~-[2][Q]
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AGENDA STATEMENT
CITY COUNCIL MEETING DATE: February 21,1996,
SUBJECT:
1996-97 Budget Study Session
Report Prepared by: Richard C. Ambrose, City Manager
EXHIBITS ATTACHED:
1.
2.
Budget Issues Worksheet
Analysis of Estimated Future Impacts of City's General Fund
including Attachments 1-12
RECOMMENDATI~.
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2.
Receive Staff Report
Review Budget Issues Worksheet and provide Staffwith
direction in the development of the 1996-97 Budget
Establish an Annual Budget Hearing Date
3.
FINANCIAL STATEMENT:
See attached.
DESCRIPTION: For the last two years, the City has conducted a Budget Study
Session for the purpose of identifying those areas that the Council would like Staff to analyze as part of
. the development of the City's Annual Operating Budget and Five Year Capital Improvement Program.
Through early identification of the service and fiscal issues, the City Council will be in a better position to
collectively understand the short and the long term fiscal and service impacts on the City during the
Council's deliberations on the Fiscal Year 1996-97 Annual Budget and new Five Year Capital
Improvement Program later this fiscal year. These study sessions are designed to reduce the potential for
last minute budget issues to arise for which there would be little or no time to evaluate.
Staffhas provided a budget issues worksheet (blue) to assist the Council in providing Staff direction with
respect to the upcoming Budget and Capital Improvement Program. Staffhas also identified potential
fiscal impacts (see Exhibit 2) on the City during the next several years. Attached to Exhibit 2 are a
number of attachments that provide the Council with financial information and about the City.
It is Staff s recommendation that the Council utilize the budget issue worksheet as a means of providing
Staff with direction in the preparation of the Fiscal Year 1996-97 Operating Budget and new Five Year
Capital Improvement Program.
g/cc-mgts/feb/2.21.96/budg
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COPIES TO:
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ITEM NO. -8. '2
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1996-97 BUDGET ISSUES WORKSHEET
NOTE: It is recommended that the City Council review the 1995-96 Preliminary Budget & 1994-99
Five Year Capital Improvement Program to assist in their review of the issues identified in this
worksheet.
I. EXPENDITURES
A. Should the 1995-96 level of service adopted by the City Council as part of the
1995.96 Adopted Budget for each program area be used as the base level of
service for Fiscal Year 1996.97 Budget?
YES
NO
(Circle one)
or
If no, Identify below what service would you like to see added or dropped from
the base level of service for 1996-97?
ADDED SERVICES
DROPPED SERVICES
B.'
If the City Council is desirous of accomplishing all high priority objectives during
Fiscal Year 1996-97, should the cost of funding those high priority objectives be
Included as additional budget increments to the base service level, if additional
resources are required to accomplish those objectives?
YES
NO
(Circle one)
or
C. Should Community Group requests be placed in the Fiscal Year 1996-97 base service
level at the same funding level as Fiscal year 1995-96; or Identified In a separate budget
increment? (See below)
In Fiscal Year 1995-96, the City provided funding from the General Fund to the following
Community Groups:
COMMUNITY GROUP
1995-96
Level of
Service
$ 4,500
$10,000-20,000
$ 4,000
$ 22,236
Base
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Additional
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1) Dublin Substance Abuse Council
2) Dublin Fine Arts Foundation
3) Parent Education Program (PEP)
. 4) Community Television
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D.
The following service contracts are due for evaluation this Fiscal Year.
1. Building & Safety Contract (LP2)
2. Animal Control (Alameda County)
3. Public Works Maintenance (MCE)
4. Crossing Guards (All City Management)
Are you interested in Staff evaluating any particular issue other than the cost of
providing service by the current service provider for Fiscal Year 1996-97?
YES
NO
(Circle one)
or
If yes, which service and what aspect of the service or provider would you like Staff to
evaluate. (Note: The City solicited and selected new providers for Building & Safety
and Crossing Guards this year.)
E.
As shown in Attachment 9, the City has utilized a very limited amount of General Fund
Revenues for Capital Expenditures during the last five years.
Should the City rely primarily on special revenue funds (i.e. grants, gas tax, etc.) for
funding Capital Expenditures?
YES
NO
(Circle one)
or
If no, should Capital Expenditures which have no special revenue source be funded
from:
1. General Fund Annual Operating Revenues
2. General Fund Balance
3. New Revenue Sources
F. CAPITAL IMPROVEMENTS
1. Are there additional Capital Projects which are not Included In the adopted Five
Year Capital Improvement Program which would you like to see Staff evaluate?
If so, please indicate below which projects you would like staff to evaluate.
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2.
Of those projects currently identified In the Five Year CIP, are there any projects
which you like to see funded in Fiscal year 1996-97? If so, please indicate
below.
II. REVENUES
A. How should Citywide Assessments (i.e. storm water) be set for Fiscal Year 1996-
97?
1. Reflect actual cost
2. Reflect on by the increase in the CPI and subsidize the difference from the
General Fund
3. Freeze Assessments and subsidize difference from the General Fund
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B.
What additional revenue issues (if any) should be evaluated as part of the Fiscal
Year 1996-97 Budget?
III. BUDGET DOCUMENT
Please review the 1995-96 Preliminary Budget and the 1994-99 Capital Improvement Program
documents and identify format changes (if any) you would like to see Staff make in Fiscal
Year 1996-97 (i.e. less detail, more detail)
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IV.
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BUDGET CALENDAR
In order to establish a Budget Calendar for preparation of the Budget, it is necessary to
establish a budget hearing date(s).
Staff would recommend the week of June 24, 1996.
g/cc-mtgslfeb/2.21.96/budgsess
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ANALVe OF ESTIMATED FUTURE .ACTS
ON THE GENERAL FUND
(prepared February 15, 1996)
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Staff has analyzed potential major items which can affect General Fund Revenues and Expenditures
beginning in Fiscal Year 1996/97 and beyond. The information in some cases is extremely preliminary
and based upon limited information available at this time.
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REVENUES AMOUNT
1. Sales Tax: As part of the adopted 1995/96 Budget it was anticipated that the City Unknown
would experience a decline in Sales Tax revenues from the level achieved in the
prior fiscal year. 'This decline is related to increased retail competition with new
outlets located in adjacent communities, as well as the loss of the Paper
Corporation of America (Unisource) facility. The timing of these events
fluctuated and therefore the full year impact will not be felt until Fiscal Year
1996-97. Any declines may be partially offset by new retail establishments in
the City of Dublin as well as the change in allocation vehicle lease taxes effective
January 1, 1996.
2. Property Tax: The City has experienced very limited growth in Property Tax Unknown
Revenue in recent years. For example, in Fiscal Year 1995/96 the Assessed
Value for Secured properties county wide grew by approximately 2.6%, while
the City of Dublin growth was approximately 0.5%. The limited growth in this
revenue has been impacted by several factors including the following: a
slowdown in the number of real estate sales transactions; the County Assessor
has limited some annual changes in the assessed value to less than 2%; and many
property owners have appealed their current assessment and requested a lower
value based upon current market conditions.
3. Interest: Over the past year the Federal Government has made adjustments to Unknown
key rates, which has lowered the interest rates available on many investments.
Interest revenue in the General Fund is a significant revenue source. The City is
also impacted by the fact that the length of maturity for new investments must be
shorter than in the past, due to a City Council goal to have General Funds
available to call all outstanding COP's in February of 1999. If the total yield on
the City portfolio drops by one-half percent the City will have approximately
$48,000 less interest income.
4. Proposed Right To Vote On Taxes Constitutional Amendment: Unknown
Organizations are currently collecting signatures for a constitutional amendment
to be placed on the November 1996 statewide ballot. If this measure qualifies for A complete
the ballot and is imposed it could effect the City ability to collect certain existing loss of
special revenue funds. (Citywide Street Lighting, Stagecoach Landscape affected
Maintenance District, Dougherty Landscape Maintenance District, and the Storm revenues
Water Runoff Fund - NPDES). If these special revenues were eliminated the could be in
City would need to consider alternatives, which may include use of the General excess of
Fund. In Fiscal Year 1995-96 the total revenues collected through these $460,000
I assessments and fees were in excess of $460,000. If passed, existing assessments per year.
would be subject to the new requirements July 1, 1997. (Fiscal Year 1997/98)
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EXHIBIT 2
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OPERATING EXPENDITURES
Identified below is a preliminary list of new expenditures which are anticipated by the Operating
Departments. The expenditures do not include inflationcuy increases for the purchase of materials,
supplies, and equipment. Also excluded from this table is any estimate of increased cost of wages and
benefits for current City employees, Dougherty Regional Fire Authority employees, or other contract
service providers. In the 1996 Goals & Objectives there may also be identified objectives which will
require additional funding.
4.
COST ITEM
1.
Liability Insurance Coverage Increase: Prelimincuy data used by ABAG
PLAN Corporation indicates that the City will receive a premium increase in
Fiscal Year 1996/97. TItis is due to several factors including: reduced
interest earnings by the insurance pool to offset the estimated losses; and the
premium allocation formula is based heavily on payroll. As the City has
added positions in recent years there is an increase in insurance premiums.
Additional Cost
$ 14,000
$ 4,000
$ 9,000
$ 50,000 FY 96/97
to
$180,000 FY 98/99
5. Police Services Affected By BART & East Dublin Development: The $40,000 - $115,000
public service costs associated with development will affect various
operating departments. In the case of Police the timing of development will
directly affect the total costs. In the near term there is potential for both
BART and the Santa Rita Commercial Center. It is not anticipated that the
City will incur service costs for the full 1996/97 fiscal year on either project. ....
TItis analysis does not account for any increase in revenues associated with
new development. The range is presented due to a lack of definite
information on the timing and whether one or both projects are in place.
2.
Election: Due to the staggered election schedule, the City does not incur an
election expense in each fiscal year. In November 1996 there is a scheduled
election for the position of Mayor and 2 City Councilmember positions. The
actual costs will depend upon the number of measures on the ballot and in
accordance with a formula developed by the County Registrar of Voters.
3.
Animal Shelter: The County has advised the participating cities that the
salary range approved by the County Civil Service Commission for new
Animal Shelter positions, was significantly more than was included in the
original proposal. The County agreed to abide by the figures in their
proposal through June 30, 1996. TItis change could cause an additional
$62,000 in operating expense. The City would only absorb its share.
Police Dispatch Costs: Previously the Sheriff revised the methodology for
distributing dispatch costs among users of the system. The modifications
increased the City of Dublin share, and the Sheriff agreed to phase in the
implementation of the increase beginning in Fiscal Year 1994/95. Costs
were scheduled to increase by 20% per year between FY 1994/95 and FY
1998/99.
HISTO~AL COMPARISON OF GE~ FUND
OPERATING REVENUE vs EXPENDITURES
(Includes CIP Project Expense and Civic Center Debt Service Payments)
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REVENUES
Actual
1990-91
$ 14,089,243
Actual
1991-92
$ 13,113,515
Actual
1992-93
$ 13,165,467
Actual
1993-94
$ 13,570,129
Actual
1994-95
$ 14,841,491
Budget
1995-96
$ 15,115,955
EXPENDITURES
Actual
1990-91
$ 12,754,132
Actual
1991-92
$ 12,662,529
Actual
1992-93
$ 12,707,804
Actual
1993-94
$ 12,179,833
Actual
1994-95
$ 12,838,951
Budget
1995-96
$ 14,731,221
I-+- Revenue --- Expenditures I
$16,OCXJ,OCO
$15,OCXJ,OCXJ ----------- ------------ ----------- ------------ ----
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$14,OOO,OCXJ
$13,OCXJ,OOO
$12,OCXJ,OOO
$11,OOO,cro
$10,OOO,OCXJ
1990-91
1991-92
1992-93
1993-94
1994-95
1995-96
ANAL YSIS: In the current year the amount of revenues in excess of expenditures is projected to
decrease substantially from what has been experienced in prior years.
NOTE: The budget figures presented for Fiscal Year 1995/96 do not account for operating transfers to other funds. As
presented in the Mid-Year Financial Report it is projected that the General Fund will have net transfers to other funds totaling .
$317,076. This will reduce the amount by which General Fund Revenues are expected to exceed General Fund Expenditures. _"
ATTACHMENT 1
02114/964:57 PM
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COST ITEM
· Library Service (Indirect Charges): Beginning in Fiscal Year 1995/96 the
Alameda County Library began phasing in a major increase in the overhead
rate charged on contract service hours funded by the City.
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Change In Allocation Formula County Library: Agencies currently
serviced by Alameda County Library system have begun discussing the
formulas used to allocate the base level of service hours between the various
branches. Some have questioned the relationship between the revenues
generated from property tax for libraries within an individual community, as
compared to the base level of service hours provided. If the formula is
changed the City of Dublin would need to contribute additional funds to
maintain the current base level of service.
CAPITAL EXPENDITURES
In the adopted Five Year Capital Improvement Program, there are several
needed projects, which have been identified as unfunded. A summary by
major program area follows:
CIP PROGRAM AREA
AMOUNT
WITHOUT
IDENTIFIED
FUNDING
$ 390,000
1,886,820
9.239.427
$ 11,516,247
.-,:: Community Improvements
Parks
Streets
TOTAL
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Additional Cost
$ 8,300
Up To $50,000
additional per
year.
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HISTO'CAL COMPARISON OF PER'APITA
GENERAL FUND OPERATING REVENUE & EXPENDITURES
(Includes CIP Project Expense and Civic Center Debt Service Payments)
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REVENUES
Actual Actual Actual Actual Actual Budget
1990-91 1991~92 1992-93 1993-94 1994-95 1995-96
$ 14,089,243 $ 13,113,515 $ 13,165,467 $ 13,570,129 $ 14,841,491 $ 15,115,955
Population 23,550 23,500 25,162 25,853 26,270 26,581
$ Per Capita $598 $558 $523 $525 $565 $569
EXPENDITURES
Actual Actual Actual Actual Actual Budget
1990-91 1991-92 1992-93 1993-94 1994-95 1995-96
$ 12,754,132 $ 12,662,529 $ 12,707,804 $ 12,179,833 $ 12,838,951 $ 14,731,221
Population 23,550 23,500 25,162 25,853 26,270 26,581
$ Per Capita $542 $539 $505 $471 $489 $554
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I-+- Revenue --- Expenditures I
$600
$550
$500
$450
1990-91
1991-92
1992~93
1993-94
1994-95
1995-96
ANAL YSIS: General Fund Revenues and Expenditures have been increasing over the past two Fiscal
Years, However, it is notable that the per capita revenue projected for Fiscal Year 1995-96 remains below
.' the per,capita revenue achieved in Fi.scal Year 1990-91. Per Capita Expenditures in Fiscal Year 1995-96
_,: are projected to be only 2.2% over FIscal Year 1990-91 levels.
ATTACHMENT 2
02114/964;55 PM
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Comparison of Total General Fund Revenues
(Adual FY 1990-91 - FY 1994-95 Plus Budget 1995196) .
Actual Actual Actual Actual Actual Budget
REVENUES 1990-91 1991.92 1992-93 1993-94 1994-95 1995-96
Property Taxes $ 3,790,611 $ 3,807,251 $ 3,659,582 $ 3,853,102 $ 3,944,284 $ 3,968,100
Sales Tax $ 5,839,089 $ 5,293,709 $ 5,484,502 $ 5,969,342 $ 6,470,287 $ 6,400,000
Other Taxes $ 574,353 $ 599,290 $ 731,622 $ 634,740 $ 651,807 $ 805,500
Licenses & Permits $ 248,116 $ 246,459 $ 281,921 $ 340,995 $ 337,551 $ 565,650
Fines & Forfeitures $ 19,476 $ 25,780 $ 24,414 $ 34,316 $ 35,668 $ 35,000
Interest $ 1,282,078 $ 976,342 $ 805,693 $ 877,290 $ 1,068,232 $ 1,043,000
Rentals $ 56,869 $ 62,161 $ 73,276 $ 58,325 $ 72,482 $ 81,850
Intergovernmental $ 973,266 $ 864,647 $ 919,902 $ 945,713 $ 1,044,002 $ 1,031,450
Charges For Services $ 1,196,484 $ 939,833 $ 1,020,631 $ 580,738 $ 1,053,715 $ 1,096,030
Other Revenue* $ 108,901 $ 298,043 $ 163,924 $ 275,568 $ 163,463 $ 89,375
'lncludes ABAG PLAN
Insurance Dividend
TOTAL REVENUE $ 14,089,243 $ 13,113,515 $ 13,165,467 $ 13,570,129 $ 14,841,491 $ 15,115,955
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$15,500,000
$15,000,000
$14,500,000
$14,000,000
$13,500,000
$13,000,000
$12,500,000
$12,000,000
FY 90-91 FY 91-92 FY 92.93 FY 93-94 FY 94-95 FY 95-96
ANALYSIS: After experiencing revenue growth between FY 1992-93 and FY 1994-95, Staff is projecting a leveling off in FY 1995-96.
It is important to note the categories which contributed significantly to the Revenue Growth (Sales Tax, Interest, and Charges For
Services). Each ofthese revenues are highly related to external economic fadors.
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ATTACHMENT 3
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COMPARISON OF
ACTUAL GENERAL FUND REVENUE TREND
COMPARED TO REVENUES ADJUSTED TO CONSTANT 1991 DOLLARS
(Based Upon San Francisco/Oakland -Urban Wage Earners
June 1991 - June 1995 Adjusted To 1991 Dollars)
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$15,500,000
$15,000,000
$14,500,000
$14,000,000
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$13,500,000
$13,000,000
$12,500,000
1-..- Actual Revenue ----- CPI Adjusted Revenue I
$12,000,000
FY 1990-91 FY 1991-92 FY 1992-93 FY 1993-94 FY 1994-95 FY 1995-96
ANAL YSIS:
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Printed: 2/13/96 5:25 PM
Although General Fund Revenues have increased for each of the past two years,
this does not account for the effect of inflation. The bottom line (small squares) on
this chart identifies the revenue trend adjusted to constant 1991 dollars. Since
1990/91, the revenues have lagged behind inflation, as shown by the fact that the
Adjusted Revenue line has never exceeded $13,500,000 subsequent to the first year
shown on the chart. Further, the trend for Adjusted Revenue between FY 1994-95
and the projected revenue for FY 1995-96, actually shows a slight decline.
ATTACHMENT 4
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Historical Trends For Major General Fund Revenue Categories
Actual Actual Actual Actual Actual Budget .
REVENUES 1990-91 1991-92 1992-93 1993-94 1994-95 1995-96
Property Taxes $ 3,790,611 $ 3,807,251 $ 3,659,582 $ 3,853,102 $ 3,944,284 $ 3,968,100
General Fund Total 26.9% 29.0% 27.8% 28.4% 26.6% 26.3%
Sales Tax $ ~,839,089 $ 5,293,709 $ 5,484,502 $ 5,969,342 $ 6,470,287 $ 6,400,000
General Fund Total 41.4% 40.4% 41. 7"10 44.0% 43.6% 42.3%
Interest $ 1,282,078 $ 976,342 $ 805,693 $ 877,290 $ 1,068,232 $ 1,043,000
General Fund Total 9.1 % 7.4% 6.1 % 6.5% 7.2% 6.9%
Charges For Services $ 1,196,484 $ 939,833 $ 1,020,631 $ 580,738 $ 1,053,715 $ 1,096,030
% General Fund Total 8.5% 7.2% 7.8% 4.3% 7.1% 7.3%
% Total Major Categories 85.9% 84.0% 83.4% 83.2% 84.5% 82.8%
Actual Trends For Major General Fund Revenues (1990/91 - 1995/96)
-Sales Tax ~Property Taxes -'-Interest ~Charges For Services
$6,975,000
$6,325,000
$5,675,000
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$5,025,000
----------~ ---------~-- --------~-- ----~----~-- -----------
$4,375,000
----~~----- ---~-------- -~--------~ ---------~-- ----~--~---
$3,725,000
$3,075,000
~----~--~-- ---~~------- -~~-------- -------~~--- ---~-------
$2,425,000
--~-------~ ------------ -----~----- ------~----- -----------
$1,775,000
$1,125,000
-~------~-- -----~-~---- ----------- --~----~---- -----------
$475,000
1990.91
1991-92
1992-93
1993-94
1994.95
1995-96
ANALYSIS: This chart analyzes four major General Fund Revenues which account for over 80% ofthe total
General Fund Revenues collected. Except for Sales Tax and Charges for Services. these major revenue
sources have remained relatively flat.
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2/13/9618:14
ATTACHMENT 5
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ANALYSIS OF THE IMPACT OF INTEREST RATE CHANGES ON
GENERAL FUND INTEREST REVENUES
Interest Revenue In The General Fund
.~1e City of Dublin has the benefit of General Fund Reserves, which are invested along with other monies held
.by the City. Interest earnings from the General Fund share of the investments produce a revenue source which
can be significant, as well as a source of revenue which cannot be impacted by the State Budget process. Over
the past 5 years the General Fund Interest Revenue has ranged from a low of approximately $805,000 in
1992/93, to a high of approximately $1,282,000 in Fiscal Year 1990-91.
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Investments With Stated Maturities
As of January 31, 1995 approximately 57% of the total City portfolio is invested in Federal Agency and US
Government securities. In addition approximately 3% is invested in insured Certificates of Deposit (CD)
placed with financial Institutions. The City has structured its portfolio with varying maturity dates. Final
maturities have also been selected to protect the opportunity to have $13,052,781 available on February 1, 1999.
It is proposed that these funds would be used to call all outstanding Civic Center Certificates of Participation.
The following is a breakdown of the Government/Agency Securities and CD's based upon the fiscal year of
maturity and whether the investment may be called prior to the stated maturity date.
FIXED MATURITIES
CALLABLE MATURITIES
TOTAL
Fiscal
Year
Fixed
Final
Maturity
Average
Rate
Callable
Prior To
Maturity Date
Average
Rate
GRAND
TOTAL
Weighted
Average
.1~95/96
1996/97
1997/98
1998/99
$500,000
$2,393,000
$100,000
$1,391,000
6.200%
6.788%
6.010%
5.161 %
None
$1,000,000
$1,000,000
$7,400,000
None
5.805%
5.756%
5.380%
$500,000
$3,393,000
$1,100,000
$8,791,000
6.20%
6.50%
5.78%
5.35%
Potential Impacts of Interest Rate Changes On Replacement Investments
Several aspects of this part of the portfolio are especially important to keep in mind, when considering potential
future income streams. First, is the relatively high rates currently received on securities maturing in the next
two years. For example from November 1995 to January 1996 the average on a 2 Year Treasury Note declined
from approximately 5.5% to approximately 5.08%. In early February 1996 a 3 Year Treasury Note, was trading
at approximately 5.0%. As securities mature it is anticipated that the City will receive lower yields.
Second, is the impact by recent changes in Federal monetary policy, which may escalate the number of
securities called prior to their stated maturity. All of the callable securities are eligible to be called by
December 1996. For example, the City currently holds a FNMA callable security which matures in May of
1998 and has a yield of 6.03%. The agency may fmd that it can call the instrument in November and reissue the
debt at a lower rate. Replacement investments available to the City will also be paying a lower rate.
The third impact is the shortening of the investment time frame for maturing investments. If the City is going to
have funds available to provide for an early call of the Civic Center COP's, all replacement investments must be
..:~ a term of under 3 years. Typically the rate of interest paid on investments declines for short term
nvestments compared to those placed with maturities of 3 - 5 years. Once Again this may impact the future
revenues available from interest.
ATTACHMENT 6
printed: 02/14/964:59 PM 4:59 PM
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Impact of Interest Rate Changes On General Fund Revenue
As previously noted interest revenue can be a significant discretionary revenue source to the City. Based upon
recent economic changes and the issues discussed above, it is also foreseeable that the City will experience a
decline in intere~t revenue in future years. Shown below is a graph which displays the annual interest revenue.
produced by a fund balance of $19,400,000. TIris was approximately the General Fund Balance at June 30,
1995. It is important to note that the actual amount available for investment may average less than $19.4
million. This is due to the fact that the City must pool its cash to cover operating costs expensed from all funds.
For example, on the $2.0 million ISTEA Dublin Boulevard Widening Project, the City is reimbursed for
expenditures after they have already been made. Therefore, the chart is intended to show the general magnitude
of changes in interest rates.
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Changes In Annual Interest Revenue
Based Upon $19,400,000 Invested At Different Interest Rates
1250000
1150000
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GI
CI
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GI
~ 1050000
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E
~ 950000 p n n __ - __ - __ - __ p - __ - -
Actual 92/93
Avg Rate
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C
C
<
850000 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
750000
6.00
5.75
5.50
5.23
5.14
5.00
4.75
The significance of the chart shown above is the reduction in interest revenue to the City as the interest rates
continue to decline. Hypothetically, if the City had $19,400,000 invested and the total return declined by
approximately 1/2 % the annual decline in revenue would be approximately $48,500.
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02114/964:59 PM 4:59 PM
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. GENERALFUNDEXPENDnITffiES
(Operating Expenses I CIP I Debt Service)
Actual Actual Actual Actual Actual Budget
1990-91 1991-92 1992-93 1993-94 1994-95 1995-96
General Govenunent $ 1,369,175 $ 1,532,775 $ 1,479,889 $ 1,464,618 $ 1,581,140 $ 1,650,777
Public Safety $ 4,795,468 $ 5,350,467 $ 5,802,850 $ 5,727,728 $ 6,043,221 $ 6,916,167
Transportation $ 837,547 $ 841,414 $ 595,253 $ 487,451 $ 539,936 $ 700,912
Health & Welfare $ 26,277 $ 29,526 $ 7,271 $ 76 $ 17,412 $
Culture & Leisure $ 1,470,398 $ 1,693,297 $ 1,745,571 $ 1,712,352 $ 1,765,992 $ 1,954,577
Community Development $ 1,827,355 $ 1,438,473 $ 1,297,193 $ 986,292 $ 1,250,082 $ 1,624,160
Contingent Reserve N/A N/A N/A N/A N/A $ 100,025
TOTAL OPERATIONS $ 10,326,220 $ 10,885,952 $ 10,928,027 $ 10,378,517 $ 11,197,783 $ 12,946,618
Capital Improvement Program $ 848,440 $ 231,875 $ 204,239 $ 342,723 $ 179,719 $ 284,923
Net Debt Service $ 1,579,472 $ 1,544,702 $ 1,575,538 $ 1,458,593 $ 1,461,449 $ 1,499,680
.'..
'::
GRAND TOTAL
$ 12,754,132
$ 12,662,529 $ 12,707,804 $ 12,179,833 $ 12,838,951
$ 14,731,221
$14,100,000
--------~ ~-~------ -~------- --~------ ~----
$12,100,000
$10,100,000
---~----- --~-~--~- -----~-~- ------~~- -----~-~-
$8,100,000
~--~----- -----~--- -------~- --------- -------~-
-Grand Total
--+- Total Operations
....... Debt Service
........ C I P
$6,100,000
-----~--- --------~ -~~------ ~-------- ~---~----
$4,100,000
--------- --------- --------- -----~--- -----~--~
$2,100,000
$100,000
1990-91
1991-92
1992~93
1993-94
1994-95
1995-96
e.,
ANALYSIS: The chart displays that the most significant part of the General Fund expenditures are related
to operating costs. Use of General Fund monies for capital projects has remained relatively flat for the
time period analyzed.
2114196 5:03 PM
Attachment 7
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, .l---J
COMPARISON OF
ACTUAL GENERAL FUND EXPENDITURES .
COMPARED TO EXPENDITURES ADJUSTED TO CONSTANT 1991 DOLLARS
(Based Upon San Francisco/Oakland -Urban Wage Earners
June 1991 - June 1995 Adjusted to June 1991 Dollars)
$15,000,000
$14,000,000
---------- ~--------~- -----~------------~--~ --~--- --~-
$14,500,000 - - - - - - - - - - - - _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
$13,500,000
---------- ----------- ------------~-----~--- --- ~------
$13,000,000
-----~~~-- -~-~------- ------------------~--~
$12,500,000
--- Actual Expense
--Adjusted Expense
$12,000,000
$11,500,000
.--
$11,000,000 - - - - - - - - - - _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
$10,500,000
---------- ----------- ----~---------------~- ~---~----~-
$10,000,000
1990-91
1991-92
1992-93
1993-94
1994-95
1995-96
ANAL YSIS:
Although for each of the past two years the actual General Fund Expenditures have
increased, it is important to consider these changes in terms of constant dollars. As
shown, the bottom line displays the expenditure pattern in constant 1991 dollars. It
is most significant to note that the Fiscal Year 1995-96 Budgeted Expenditures
were relatively equal to the Fiscal Year 1990-91, on this adjusted scale.
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printed: 02/14/96 5:08 PM 5:08 PM
ATTACHMENT 8
C-"" ~ ..
.-
.:i~
.,
.'
$7,150,000
$6,900,000
$6,650,000
$6,400,000
$6,150,000
$5,900,000
$5,650,000
$5,400,000
$5,150,000
$4,900,000
$4,650,000
$4,400,000
$4,150,000
$3,900,000
$3,650,000
$3,400,000
$3,150,000
$2,900,000
$2,650,000
$2,400,000
$2,150,000
$1,900,000
$1,650,000
$1,400,000
$1,150,000
$900,000
$650,000
$400,000
$150,000
1990-91
Analysis:
I
02114/96 10:47 AM
GENE&ttFUND EXPENDITURES BY MAJOa.OGRAM
(Exluding Health Welfare)
1991-92
1992-93
1993-94
1994-95
1995-96
-II- Public Safety
--- General Government
-+-CIP
-'-Culture & leisure
-..- Net Debt Service
- Community Development
-e- Transportation
This chart analyzes a comparison between General FWld major expenditures by program area. As shown
Public Safety expenditures have increased in recent years. Although, CommWlity Development spending
has increased over the past two years due to increased development activity, the Fiscal Year 1995/96 Budget
remains below the Fiscal Year 1990-91 expenditures in this category. Culture & Leisure shows a slight
increase in the most recent year. Changes in other program areas have been relatively flat.
ATTACHMENT 9
I:STORlCAL COMPARISON.
GENERAL FUND BALANCE
(prepared February 7, 1996)
,~
). ~~....j
.
June 30, 1993
June 30,1994
June 30, 1995
TOTAL FUND EQUITY
$ 16.276.437
$ 17.711.706
$ 19.465.801
DESIGNATED USES / RESERVES
Amt. Required To Call Civic Center COP's 2/1199 $ 13,052,781 $ 13,052,781 $ 13,052,781
Liability Insurance Reserve 137,210 137,210 (See Note 1)
Cemetery Endowment N/A 60,000 60,000
Reserve For Economic Uncertainty N/A 1,369,133 1,369,133
Reserve For Prepaid Expenses 5,845 11,981 4,7.
SUB - TOTAL DESIGNATED USES $ 13,195,836 $ 14,631,105 $ 14,486,6 '--,'
AMOUNT UNDESIGNATED
$ 3,080,601
$ 3,080,601
$ 4,979,172
Note 1:
Due to a change in accepted accounting practices the City now records a Liability for self insured
losses, rather than reserving fund balance.
Maturity Schedule For Investments
The City has structured its investment portfolio in a manner which includes investments of more than one year.
The maturities are structured to allow for the early payment of the Civic Center Certificates of Participation on
February 1, 1999.
As of January 31, 1996 approximately $15,285,995 is invested with a maturity of more than one year, which
could impact the use of these funds in the upcoming year.
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printed: 02/14/96 5:15 PM 5:15 PM
ATTACHMENT 10
.--:,
...
..
"'I ~ j ~
(__".I; "
e
e
CITY OF DUBLIN
HISTORICAL COMPARISON 1991 - 1995
OF PER CAPITA GENERAL FUND BALANCE
IN CONSTANT 1991 DOLLARS
Acmal Per Fund Balance Adjusted
Audit Fund Population Adjusted To Fund Balance
As of June 30 Balance (Subvention Basis) Constant 1991 $ Per Capita
1995 $ 19,465,801 26,581 $ 17,416,052 $655
1994 $ 17,711,706 26,270 $ 16,037,950 $611
1993 $ 16,276,437 25,853 $ 15,150,108 $586
1992 $ 15,454,837 25,162 $ 14,845,916 $590
1991 $ 15,327,882 23,500 $ 15,327,882 $652
Per Capita Fund Balance Adjusted To 1991 Dollars
$660
$640
$620
$600 -~-----------------
$580 -------~-----------
$560 -----------~~--~~~~
$540
1991
1992
1993
1994
1995
Analysis:
The chart above displays changes in fund balance per capita, as adjusted to constant 1991
dollars. The City has achieved an increase over the past two years. However, it is
important to note that the June 1995 figure of $655 per capita relatively the same as the
1991 per capita amount, when expressed in constant dollars.
printed: 02114/96 5:05 PM 5;05 PM
ATTACHMENT 11
"
FISCAL YEARt9511996 GENERAL FUND BaGET SUMMARY
ESTIMATED GENERAL FUND APPROPRIATIONS TO RESERVES
(ADJUSTED TO REFLECT AUTHORIZED BUDGET ADJUSTMENTS AS OF 12/31/95 AND
MID YEAR PROJECTIONS Per Staff Report 2/13/96)
., ... -.~
~
... .J I",_.~_l
.
ADJUSTED REVENUES
Estimated General Fund Revenue As Adopted 6/95
Revenue Adjustments Approved July 1995 - December 1995*
Mid-Year Projected Net Increased Revenues (2/13/95 Report)
PROJECTED GENERAL FUND REVENUES
$ 15,115,955
41,348
178.535
$ 15,335,838
(* These increases were not accounted for in the 2/13/95 Mid-Year Report)
ADJUSTED EXPENDITURES
General Government
Gross Debt Service Civic Center COP
Budgeted Contingent Reserve
Public Safety
Transportation
Culture & Leisure Services
Community Development
Capital Improvement Projects
$ 1,570,709
1,604,480
95,880
6,917,167
700,912
1,960,497
1,799,160
337,720
..-:
SUB~TOTAL ADJUSTED EXPENDITURES $ 14,986,525
ADJUSTED NET TRANSFERS
Adopted Budget Net "Transfers Out" To Other Funds $
Revised Mid~Year Additional Net "Transfer Out"
SUB-TOTAL NET "TRANSFER OUT" $
309,201
7,875
317,076
GRAND TOTAL EXPENDITURES/ "TRANSFERS OUT"
$ 15,303,601
PROJECTED DIFFERENCE IN GENERAL FUND REVENUES
vs. EXPENDITURES (Additional Appropriation To Reserves)
$
32.237
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ATTACHMENT 12
02/14/963:25 PM