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Published byByron Ellis Modified over 9 years ago
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Public Hearing August 11, 2011 7:00 pm
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On May 3, 2011, the West Bountiful City Council adopted a balanced tentative budget maintaining current service levels.
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The City has not applied regular funding to streets maintenance The current budget for the Capital Streets Plan remains unfunded by $8.1 million
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Option #1 60 years no maintenance 1 Rebuild at 30 years ($5.00 per square foot) Total cost for rebuild only – 20 miles @ $5.00 sf = $15,312,000 Option # 2 60 years with maintenance Four slurry seals, two overlays with rebuild at 60 years ($3.00 per square foot) Total cost for maintenance/rebuild plan – 20 miles @ $3.00 sf = $9,187,200 CARING FOR STREETS SAVES $6,124,800
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Leading Road Infrastructure Projects 700 West from 1000 to 1600 1550 N from 700 W to 725 W 800 West from Porter to 2350 725 West 800 West from Pages to DSB 400 N from 1100 W to 1450 W 800 W from 100 N to Pages 900 W from Pages South Current Total Unfunded Street Liability is $8.174 million
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B and C Road Funds Fuel tax collected and redistributed by the state based on miles/type of road Impact Fees Can only be used on collector roads (500 S, 500 W, and 400 N) Federal, State, and Private Grants Rarely available or predictable Use of Fund Balance Currently 6 to 7 years to accrue for one project Currently 31 projects over next 20 years Fund Balance alone stretches projects from 20 years to 200 years
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Full Time benefitted employees reduced from 25 to 20 (20% reduction) 401(k) benefit taken from employees saving $100,000 per year Employee contributing additional 10% to benefit package No COLA or salary increases for FY 2012 Constant effort to hold line on overtime and comp Transferred Justice Court to County Spending reductions and freezes last three years Contracts evaluated and renegotiated or rebid Grant for solar 10% reduction in electric costs
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Property Value Certified Tax Rate Proposed Tax Rate Annual Increase Monthly Increase $ 100,000$81.35$135.91$54.56$4.55 $ 200,000$162.69$271.81$109.12$9.09 $ 300,000$244.04$407.72$163.68$13.64 $ 400,000$325.38$543.62$218.24$18.19 $ 500,000$406.73$679.53$272.80$22.73 $ 600,000$488.07$815.43$327.36$27.28 $ 700,000$569.42$951.34$381.92$31.83 $ 800,000$650.76$1087.24$436.48$36.37 $ 900,000$732.11$1223.15$491.04$40.92 $ 1,000,000$813.45$1359.05$546.50$45.47 Median tax- assessed home value
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Tax Collection Proposed Tax Rate$1,016,656 Certified Tax Rate-$608,512 Increased Collections$408,144
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The City has reduced costs to balance operating budget, but does not have long term funding for Streets Capital Plan, consisting of: 31 Projects across the community Maintenance of existing street to prolong life and save money Replacement of dead streets in connection with other utilities (Water, Storm Drain…) The Plan is underfunded by $8.1 million The proposed property tax increase averages about $10 month for a $200,000 home
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This increase in property taxes will allow for the proper maintenance of City streets on a pay as you go basis. Maintaining the streets properly will save $6.9 million per streets life cycle.
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West Bountiful receives approximately $1.56M per year in Sales Tax Revenue Of this revenue, $458,000 is committed to outside agencies by Sales Tax Sharing Agreements: Bountiful City – 14% (Commons) to 35% (Gateway) Term of agreement is 50 years Developer – 43% (Commons) Term of agreement is 10 years
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If you were to buy a computer from Costco for $1,000, your final payment would be $1,066.00 including sales tax. The sales tax would be distributed as follows: State of Utah$ 47.00 Davis County$ 8.00 Shared based on population$ 5.00 Shared by interlocal agreement$ 2.85 West Bountiful City$ 2.15 Rap Tax$ 1.00
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Proactive maintenance for Streets will save millions of future dollars. Option #1 60 years no maintenance 1 Rebuild at 30 years $4.50 to $5.00 per square foot Option # 2 60 years with maintenance Four slurry seals Two overlays No rebuild until end of 60 years $2.35 to $2.75 per square foot For ½ mile of street 29’ times 2,640’ = 76,560 Sq. Feet Option #1 Cost is $382,800 Option # 2 Cost is $$210,540 Savings of $172,260 per half mile of street The City currently has just over 20 miles of streets Total savings from Option #2 is $6,890,400 per rebuild cycle CARING FOR STREETS SAVES MONEY
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