ADMINISTRATION - Joe Huss, Finance Director
Title
ADOPT 2019 STORM DRAINAGE UTILITY FUND BUDGET
Background
The proposed 2019 Storm Drainage Utility Fund Budget was reviewed by Council at the November 15 Workshop. At that Workshop, staff presented Council with a proposed budget that included a fee increase of $1.00/quarter ($4.00/year) and no additional staffing requests. Based upon the discussion that took place at that Workshop, staff has brought forward for Council consideration the same budget that Council discussed on November 15. The proposed budget includes $1,423,000 in operating revenue and $1,533,190 in operating expenses. Five-year projections for the Storm Drainage Fund indicate declining operating deficits over the next five years as rate increases of $2.00/year are implemented annually. The proposed budget also includes $535,000 in capital projects and $232,500 in equipment for 2019, and another $1.875 million in capital projects budgeted for 2019 through 2022. Fund reserves would see declining balances to below $200,000 by 2022, indicating a need for either a higher fee increase in year four of the plan or capital spending reductions.
Recommendation
By motion, adopt the resolution contained herein.
Body
WHEREAS, the proposed Storm Drainage Utility Enterprise Fund Budget for the fiscal year commencing January 1, 2019 has been prepared by the City Manager; and
WHEREAS, the City Council has examined, studied, and reviewed said proposed Storm Water Utility Enterprise Fund Budget; and
WHEREAS, the City Council has, after due consideration and deliberation, made such amendments and adjustments in the proposed Storm Water Utility Enterprise Fund Budget as they consider necessary, desirable, or expedient.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Blaine as follows:
1. That the proposed Budget for the Storm Water Utility Fund attached hereto is approved.
2. That the 2019 appropriations attached hereto are approved.
3. That the 2019 funding sources identified and attached hereto are approved.
4. That the City Manager is authorized and directed to implement and to administer, within the budgetary funding limits and within adopted City policy and relevant State and City laws and regulations, said approved Storm Drainage Utility Enterprise Fund Budget.
PASSED by the City Council of the City of Blaine this 6th day of December, 2018.