10/05/2004 BWS Agenda
CITY OF YELM
2005 BUDGET WORK SESSION
AGENDA: OCTOBER 5, 2004
Budget Work Sessions are scheduled from 4-7 every Tuesday in October. A light
meal/refreshments will be provided at each work session. The Budget Work Session
plan and agenda has been coordinated to allow staff and Council time to complete work
and meet all the statutory requirements associated with the budget adoption process,
and to provide adequate time to review all applicable funds.
If time permits, items from the next week's agenda will be brought forward to the current
agenda to make best use of allotted time. At each meeting, we will try to have the
agenda packet for the next meeting available for distribution. If necessary, an optional
work session can be scheduled to allow wrap up of final details.
An explanation of the funds not scheduled for review has been provided including
information about the fund's purpose, and in the case of debt service funds, original loan
amount, interest, mid-year balance and estimated payoff year. If you have questions
about any of these funds, please call me 458-8404 and I will attempt to provide an
answer or direct you to the staff person responsible for managing that fund.
A public hearing on Revenue Sources, Property/Ad Valorem Taxes, is scheduled for
Wednesday, November 10. The statutory deadline for sending the approved Ad Valorem
ordinance and certification to the Assessor is November 15 for code cities. This deadline
can be a bit challenging to meet as the new construction figures come from the county
assessor and the utility value figures come from the state. If we don't have the figures in
time, estimates are made based upon prior year figures. The new construction estimate
can be off by quite a bit as the assessor places a valuation for an estimated percentage
of construction completed on a specific date. As new construction revenue far exceeds
the 1 % regular property tax increase, if the estimate is off, I'll confirm the figures with the
assessor's office, prepare a new ordinance, resolution and certification, and
repeal/replace the originals.
A public hearing on the 2005 Proposed Final Budget has been scheduled for Tuesday,
November 23. (The Thanksgiving week meeting is conducted the day before the usual meeting
date. (YMC 2.04.010, Meetings - Date and time.) )The procedure we have been using the
past few years is to open the public hearing, present the City Administrator's staff report,
receive comments from elected officials and the public, then continue the public hearing
to the 1 st meeting in December. Using this process allows staff a bit more time to fine-
tune the budget. At the December meeting the continued public hearing is reopened,
final comments (if any) from staff/council/public can be heard and considered and then
the budget ordinance can be adopted.
Typically, we have been able to complete budget work at the 1st December meeting and
cancel the 2nd December meeting. This year that meeting would fall on December 22.
I'm hoping we will again have work completed and be able to cancel that meeting.
CITY OF YELM
2005 BUDGET WORK SESSION
AGENDA: OCTOBER 5, 2004
WEEK #1 - Tuesday. October 5. 2004. 4:00 - 7:00
1. Revenue Sources: Attachment 1
A. What they are & 2005 Revenue Projections
B. Options for Council consideration
1) Admissions Tax
2) RCW 35A.12.01 0, Size of Council (Budget costs for '05?)
2. Funds Not Scheduled for Review: Attachment 2
105 - Park Reserve
106 - Emergency/Disaster
107 - Tourism Promotion
110 - Yelm PD Special Projects
112 - Five Corners--------'Q4 Mid-year loan balance $181,500 @ 5.68%
119 - Park Use Deposits
203 - '99 (RDA) Sewer Revenue Bond & State Loan
204 - '99 Sewer Revenue Bond Reserve
402 - Consumer Deposits
403 - Garbage
405 - Water Revenue Debt Redemption Fund
2003 Water Revenue Bond
DOE Reclaimed Water Distribution/Storage Loan
DOH Drinking Water State Loan
406 - Water Revenue Debt Reserve (For 405 Bond/Loans)
407 - Local Improvement District, LID #1 Redemption
415 - SRL: L0300031/Sewer Loan Refinance & Reserve
(Refinanced 1994 Sewer Rev Bond
416 - Local Improvement District Guarantee (Reserve) Fund
3. City Debt Information: Attachment 3
A. 2003 Schedule of Long-Term Debt, Pages 1-3
B. 2003 Total Debt, Page 1
4. Current Fund Budget Review: Attachment 4
A. 001 511 - Legislative
$33,670, $43,174, $44,893, $39,146
B. 001 512 - Municipal Court
$135,139, $146,098, $154,948, $152,140
C. 001 513 - Executive
$130,069, $179,898, $187,834, $186,669
5. Salary Discussion