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2014 Budget Development Timeline and Principles for Sustainable Community Growth

This document outlines the essential principles and timeline for the 2014 budget development process. It emphasizes the Council's mission, strategic initiatives like Thrive MSP 2040, and the importance of legal compliance, service efficiency, and infrastructure preservation. Key priorities include sustainable operations, competitive levies, and well-planned workforce strategies. It also highlights the challenges posed by economic recovery, regulatory requirements, and funding uncertainties. A comprehensive approach is taken to ensure the budget aligns with community needs and values.

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2014 Budget Development Timeline and Principles for Sustainable Community Growth

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  1. 2014 BUDGETDEVELOPMENT Council – February 27, 2013

  2. Timeline for Budget Development

  3. 2014 Budget Development Principles • Council Mission, Priorities and Policies • Thrive MSP 2040 Vision • Legal/Regulatory Compliance • Service Quality and Efficiency • Preserve & Rehabilitate our Infrastructure • Sustainable Operations and Management • Reasonable/Competitive Levies, Rates, Fares • (representative of service value, needs, and cost)

  4. Council Priorities & Initiatives • Thrive MSP 2040 • TOD Strategic Action Plan • Transit Funding Plan • Housing Policy Plan • Water Supply Plan • Integrated Operations • Workforce Planning

  5. Challenges Budget Development Schedule Legislative Session Outcomes Uncertainty of Federal Funding Workforce: Retire, Replace, Workload Economic Recovery Regulatory • PFOS, Phosphorus/Nitrogen, Emerging Contaminants • Reporting requirements

  6. Federal Sequestration Funding Impacts FFGA – Central Corridor LRT Project • $16.7 M impact under MAP-21 & Sequestration for FFY 2013 • Timing and size of GANS issues Build America Bonds • Interest subsidies for Transit and Wastewater Bonds • 2013 impact $215,000 • Debt service reserves (105%) Metro HRA • $2.5 M (approximately 350 Section 8 program participants) PFA Loan Availability • Replace with Council Bonds

  7. Payable 2013 Property Tax Levy - $78.5 M

  8. Livable Communities Levy Strategy • Livable Communities Demonstration Account • Grow to support Transit Oriented Development Grant Program

  9. General Purpose Levy Strategy • General Purpose Levy Priority • Support General Fund Operations • One-time uses and/or bridge to other funding sources • Most flexible use

  10. Debt Service Levy • Parks Bonding - Revolving Authority - $40M • Current Strategy: $2 Council Bonds match $3 State Bonds • $11 M Outstanding Bonds year-end • Transit Bonding – Annual Authority - $35.8M • Current Strategy: Annual request (increase $400K)

  11. Budget Parameters & Guidelines Target Operating Reserve Balances Salaries & Benefits Existing contracts & negotiating parameters Current Law & MMB Forecast for Revenues Budget 95% of MVST February Forecast Committee Budget Discussions Legislative outcomes Fare Policy Revenue Allocation Capital Allocation Wastewater Rate Policy TOD Strategic Action Plan

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