2017 Budget and CIP - Laserfiche WebLink

Home

The City’s overall financial condition is expected toremain strong in 2017with steady property tax and non-tax revenues and minimal overall spending increases. The City’s asset replacement programs will receive additional funding in 2017significantly improving its long-term sustainability.The City currently holds atriple-A bond rating from both Moody’s and S&P and expects to retain this in 2017and beyond. Despite the City’s continued strength of its overall financial condition,on-going challenges will remain. The largest challenge will be securing additional resources for the City’s asset replacement programs. While these programs are well-funded for the short and intermediate terms, the City intends to re-purpose expiring debt levies over the next severalyears to provide greater stability over the long-term.New tax levy dollars are also expected to be used for this purpose; primarily to strengthen street and park system improvements, as well as facilities on the City’s main campus. Finally, the 2017Budget reflects the adopted budget and financial policies that help guide budgeting and spending decisions. These policies were affirmed in 2015and can be found in Appendix A.This document summarizes the 2017Budget for all City programs and servicesand is presented in three sections. Section 1 – Executive Summary features a summary of the budget, funding sources, tax levy and tax impact, and a summary of financial trends. The purpose of this section is to provide a broad overview of city operations as a whole. Section 2 – Program Budgets Includes a summary of each major city program or divisionincluding goals and objectives, prior year accomplishments, and budget impact items. The purpose of this section is to provide a quick overview of the core programs and services provided by the City. Section 3 – Strategic Financial Plans presents information regarding the City’s Debt Management Plan, 20-year Capital Improvement Plan (CIP), and a 10-Year Financial Plan which play an integral part in the City’s long-term financial planning as well as subsequent year’s budgets. appendices The include supporting documentation that is designed to provide the reader with a greater understanding of the role the budget takes in the City’s operations, along with some supplemental demographic and statistical information. The remaining portions of this budget document provide greater detail on the funding sources and uses. We sincerely hope that all interested parties will find this document useful in evaluating the City’s programs and services, and overall financial condition. Supplemental information can also be obtained from the City’s Finance Department. We would like to express our thanks to all City Staff for their hard work and cooperation in preparing this budget. We would also like to express our appreciation for the guidance and direction provided by the City Council over the past year. Finally, it is an honor to serve the citizens of Roseville, whose trust and support are essential tofulfilling the promises embedded in this budget. Respectfully submitted, 2