City of Chattanooga Ron Littlefield, Mayor
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Transcript of City of Chattanooga Ron Littlefield, Mayor
City of ChattanoogaRon Littlefield, Mayor
Five -Year
Capital Improvements Plan
Fiscal Years 2010 - 2014
04/21/23 2
Budget Prioritization
Enterprise Industrial Park/Volkswagen Infrastructure/Road Improvements Interceptor Sewer Upgrade New Fire Halls Fleet Replacement Technology Upgrade
04/21/23 3
Total Five Year Request
Project Name 09/10 Total
Request 10/11 Total
Request 11/12 Total
Request 12/13 Total
Request 13/14 Total
Request Total General Government & Agencies
$ 11,443,641
$ 8,625,246 $ 922,500 $ 850,000 $ 805,000
Total Public Works General Fund 23,743,383 26,880,500 24,724,250 25,468,000 23,727,000 Total Public Works General ESIP 13,756,000 1,000,000 5,520,430 5,520,430 1,000,000 Total Appropriation to IDB 15,381,968 0 0 0 0 Total Parks & Recreation 8,993,900 15,455,500 5,138,000 1,105,000 315,000 Total EAC 2,650,000 200,000 200,000 200,000 200,000 Total Police Department 20,914,500 1,497,100 18,330,550 976,600 986,600 Total Fire Department 13,689,881 1,821,800 2,853,350 2,146,000 3,465,000 Total Information Services 2,100,000 850,000 850,000 600,000 600,000
Total General Fund
$112,673,27$112,673,27
33
$56,330,146$56,330,146
$58,539,080 $58,539,080
$36,866,030 $36,866,030
$31,098,600 $31,098,600
Total Water Quality Fund 2,220,126 2,025,000 3,775,000 3,775,000 3,775,000Total Solid Waste Fund 1,245,000 6,525,140 899,077 515,000 961,000Total ISS Construction Trust Fund 17,926, 334 12,483,653 16,633,653 15,533,653 0
Total Other Funds
$21,391,460
$21,033,793
$21,307,730
$19,823,653
$4,736,000
Total All Funds
$134,064,73
3
$77,363,939
$79,846,810
$56,689,683
$35,834,600
4
PROPOSED FY 2010 ALLOCATION
Project Name
09/10 Total Recommende
d CITY
SOURCES EXTERNAL SOURCES
Interfund Reallocation
s
Total General Government & Agencies
$ 5,246,850
$ 4,755,637
$ 400,000
$91,213
Total Public Works General Fund
7,072,603 3,766,598 3,282,000
24,005
Total Public Works General ESIP
13,556,000 2,500,000 -
11,056,000
Total Appropriation to IDB
12,277,968 12,277,968 -
-
Total Parks & Recreation
700,000 200,000 500,000
-
Total EAC -
- -
-
Total Police Department 252,000 178,558 73,442
-
Total Fire Department
4,960,100 3,308,945 -
1,651,155
Total Information Services
3,600,000 2,100,000 1,500,000
-
Total General Fund $
47,665,521 $29,087,706 $5,755,442
$12,822,37
3
Total Water Quality Fund -
- -
-
Total Solid Waste Fund -
- -
-
Total ISS Construction Trust Fund
10,804,000
10,804,000
-
Total Other Funds
$10,804,00
0
$10,804,000
-
Total All Funds
$58,469,52
1
$39,891,706 $5,755,442
$12,822,37
3
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FY10 MAJOR PROJECTS ROAD/RAILROAD IMPROVEMENTS 8,593,598
Hamill Road Improvements 1,500,000 Goodwin Drive 250,000 ARRA Paving 1,565,000 N. Orchard Knob 200,000 Old Hixson Pike 800,000 Rossville Blvd Streetscape 637,500 Riverwalk/Riverstreet Extension 52,098 MPO-3rd & 4th St. Extension 165,000 No. & So. Terrace @ North Moore Rd 200,000 3rd St. Parking lot @ Warner Pk. 100,000 ESIP Intersections 1,000,000 ESIP Railway Lines 1,500,000 ARRA Signal System Upgrade 624,000
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FY10 MAJOR PROJECTS
SIDEWALKS 355,000 Miscellaneous P/W Projects 374,005
Transportation Planning Study 100,000 Riverbank Stabilization 24,005 Annexation Costs 250,000
APPROPRIATION TO IDB 12,278,000 6.2 Local Infrastructure 9,025,000 9.5 Welcome Center 3,000,000
Misc.(insurance, audit, FTZ) 253,000
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FY10 MAJOR PROJECTS cont’d.
INTERCEPTOR SEWER 10,804,000 FIRE DEPARTMENT 4,960,100
Two new Fire Halls for annexation 3,300,100 Apparatus for new Stations 1,075,000 Fire Hydrants in newly annexed areas 585,000
INFORMATION SERVICES 3,600,000 Security Cameras 100,000 Mesh Network 3,000,000 Police Laptops 500,000
GENERAL SERVICES 4,140,000 Fleet Lease Program 3,000,000 Police Precinct at CCRC 600,000 Brownsfield Projects 540,000
CARTA 334,000
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FY10 Funding Sources
CITY 52,714,079 General Fund 8,761,261
Economic Development 2,999,500
Interceptor Sewer Reserves 10,804,000
Economic Dev. Recovery Facility Bonds 6,813,000
General Obligation Bonds 6,713,945
Other City Sources 16,622,373
EXTERNAL SOURCES 5,755,442 TOTAL FUNDING SOURCES 58,469,521
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Other City Sources
Narcotics Fund 500,000
2001/2003 Bond Interest 300,000
Fleet Lease Program 3,000,000
Reappropriation of P413 Funds 12,531,000
Reappropriation of P414 Funds 267,368
Bond Fund 24,005
Total Other City Sources 16,622,373
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External Funding Sources
ARRA Grant thru State/Stimulus 4,189,000
EPA/US Park Service 500,000
State of Tennessee 638,000
State of TN TNCare Reserves 73,442
Community Development Block Grants 355,000
Total External Funding Sources 5,755,442
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Capital Improvements Plan Fiscal Years 2010 - 2014
Project Name 09/10 Total
Recommended 10/11 Total
Recommended
11/12 Total Recommende
d
12/13 Total Recommende
d
13/14 Total Recommende
d Total General Government & Agencies 5,246,850 1,165,000 922,500 850,000 805,000 Total Public Works General Fund 7,072,603 17,505,500 17,205,500 9,538,000 23,727,000 Total Public Works General ESIP 13,556,000 1,000,000 5,520,430 5,520,430 1,000,000 Total IDB NR08 Fund 12,277,968 0 0 0 0 Total Parks & Recreation 700,000 4,623,500 2,953,000 1,105,000 315,000 Total EAC 0 200,000 200,000 200,000 200,000 Total Police Department 252,000 252,000 252,000 252,000 252,000 Total Fire Department 4,960,100 1,688,300 2,130,000 2,146,000 2,465,000 Total Information Services 3,600,000 850,000 850,000 600,000 600,000
Total General Fund
47,665,521
27,284,300
30,033,430
20,211,430
29,364,000
Total Water Quality Fund 0 2,025,000 3,775,000 3,775,000 3,775,000Total Solid Waste Fund 0 6,525,140 250,000 515,000 961,000Total ISS Construction Trust Fund 10,804,000 11,483,653 16,633,653 15,533,653 0
Total Other Funds
10,804,000
20,033,793
20,658,653
19,823,653
4,736,000
Total All Funds
58,469,521
47,318,093
50,692,083
40,035,083
34,100,000
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Total General Fund Debt Service 2001 – 2010
0
5,000,000
10,000,000
15,000,000
20,000,000
25,000,000
Actual 6,522,170 8,393,234 9,157,548 10,893,823 10,971,911 13,528,915 14,667,338 17,203,990 15,315,974 20,840,883
FY2001 FY2002 FY2003 FY2004 FY2005 FY2006 FY2007 FY2008 2009 2010
04/21/23 15
Outstanding Debt
224
417 432 415 446 437
41 77 98 96 134 1300
200
400
600
Millions
2000 2006 2007 2008 2009 2010
Net Debt Gross Debt
Page 16
Current Debt Profile
The City has traditionally retired its general obligation debt at a rapid rate. The City will retire approximately 33.9% of outstanding debt within 5 years, approximately 62.5% within 10 years and 86.7% within 15 years.
Fiscal Principal
Year Principal Interest Total Retired
2010 11.634 5.693 17.327 7.8%
2011 11.045 4.817 15.862 15.3%
2012 9.662 4.469 14.131 21.8%
2013 9.132 4.159 13.291 27.9%
2014 8.876 3.861 12.737 33.9%
2015 9.110 3.558 12.668 40.1%
2016 9.143 3.236 12.379 46.2%
2017 8.468 2.929 11.398 51.9%
2018 8.758 2.636 11.394 57.8%
2019 6.981 2.335 9.316 62.5%
2020 6.968 2.092 9.060 67.2%
2021 7.221 1.890 9.111 72.1%
2022 7.376 1.621 8.996 77.1%
2023 7.527 1.362 8.889 82.1%
2024 6.713 1.082 7.794 86.7%
2025 5.912 0.815 6.726 90.6%
2026 6.052 0.552 6.603 94.7%
2027 3.307 0.279 3.586 96.9%
2028 2.270 0.156 2.426 98.5%
2029 2.270 0.052 2.322 100.0%
Total 148.423 47.593 193.693 (1) Does not include Hotel-Motel Tax debt or CDRC Lease.
Outstanding G. O. Debt (1)
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0.0
5.0
10.0
15.0
20.0
2010 2012 2014 2016 2018 2020 2022 2024 2026 2028
Debt S
erv
ice ($ M
illions)
Outstanding General Obligation Debt
Principal Interest % Retired Principal
Page 17
Current Debt Profile
The following charts and tables are profiles of the City’s self-supporting debt.
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0.0
5.0
10.0
15.0
2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 2030
Deb
t Ser
vice
($ M
illio
ns)
Outstanding Self-Supporting General Obligation Debt
Principal Interest % Retired Principal
Fiscal Principal
Year Principal Interest Total Retired
2010 3.601 9.432 13.033 2.2%
2011 3.844 9.231 13.075 4.6%
2012 4.132 9.015 13.147 7.2%
2013 4.409 8.777 13.186 9.9%
2014 4.690 8.524 13.214 12.8%
2015 5.011 8.254 13.265 15.9%
2016 5.366 7.962 13.328 19.2%
2017 5.735 7.650 13.386 22.8%
2018 6.109 7.318 13.427 26.5%
2019 6.523 6.954 13.477 30.6%
2020 6.970 6.566 13.536 34.9%
2021 7.438 6.151 13.588 39.5%
2022 7.938 5.697 13.635 44.4%
2023 8.475 5.214 13.690 49.6%
2024 9.036 4.707 13.742 55.2%
2025 9.618 4.173 13.791 61.2%
2026 10.249 3.605 13.853 67.5%
2027 10.908 3.000 13.907 74.2%
2028 11.606 2.356 13.963 81.4%
2029 12.361 1.661 14.022 89.1%
2030 13.171 0.912 14.083 97.2%
2031 4.515 0.113 4.628 100.0%
Total 161.707 127.272 288.978
Outstanding Self-Supporting G.O.Debt
CDRC Lease and Hotel-Motel Tax Debt
Page 18
Current Debt Profile
The following charts and tables are profiles of the City’s enterprise debt.
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0.0
5.0
10.0
15.0
20.0
25.0
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
Debt
Serv
ice ($
Milli
ons)
Outstanding Enterprise Debt
Principal Interest % Retired Principal
Fiscal Principal
Year Principal Interest Total Retired
2010 13.962 5.325 19.287 10.3%
2011 13.263 4.728 17.991 20.1%
2012 11.409 4.178 15.587 28.5%
2013 11.650 3.668 15.318 37.1%
2014 10.692 3.190 13.882 45.0%
2015 10.940 2.727 13.667 53.1%
2016 9.288 2.289 11.577 59.9%
2017 9.677 1.876 11.554 67.1%
2018 10.081 1.447 11.528 74.5%
2019 8.875 1.040 9.915 81.1%
2020 3.942 0.786 4.728 84.0%
2021 3.817 0.673 4.490 86.8%
2022 3.915 0.548 4.462 89.7%
2023 4.015 0.422 4.437 92.7%
2024 4.127 0.290 4.417 95.7%
2025 3.740 0.156 3.895 98.5%
2026 1.543 0.068 1.612 99.6%
2027 0.536 0.012 0.548 100.0%Total 135.472 33.424 168.895
Outstanding Enterprise Debt
(000s) 2004 2005 2006 2007 2008 2009*
Total Net Outstanding Debt 75,523$ 75,730$ 77,122$ 98,602$ 96,297$ 134,038$ Excess Debt Capacity 248,195 256,195 308,923 298,214 308,579 282,911 Maximum Debt Capacity @ 10% - City Practice 323,718 331,925 386,045 396,816 404,876 416,948
Debt as a % of Assessed Value 2.33% 2.28% 2.00% 2.48% 2.38% 3.21%Assessed Value 3,237,184$ 3,319,249$ 3,860,453$ 3,968,157$ 4,048,761$ 4,169,484$
* Unaudited
Fiscal Years Ended June 30
Current Debt Profile
Unreserved Fund Balance as a % of General Fund Expenditures
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0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Unreserved Fund Balance as a % of General Fund Expenditures
Aaa Aa
Positive
Benchmark: Aaa 19%; Aa 21%
0%
5%
10%
15%
20%
25%
30%
35%
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
General Fund Balance / General Fund Operating Revenues(including Transfers In)
Chattanooga Strong Low
General Fund Balance as a % of General Fund Operating Revenue (Including Transfers In)
0%
5%
10%
15%
20%
25%
30%
35%
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
General Fund Balance / General Fund Operating Expenditures(including Transfers Out)
Chattanooga Strong Low
General Fund Balance as % of General Fund Operating Expenditure (Including Transfers Out)
Net GO Debt as % of Assessed Value
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0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
7.00%
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Net GO Debt as % of Assessed Value
Moderate Low
Positive
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Net G. O. Debt / Market Value of Taxable Property
Chattanooga Low High
Net GO Debt as % of Market Value of Taxable Property
$0
$500
$1,000
$1,500
$2,000
$2,500
$3,000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Overall Debt Per Capita
Chattanooga Low High
Overall Debt Per Capita
$-
$500
$1,000
$1,500
$2,000
$2,500
$3,000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Net Debt Per Capita
Chattanooga Low High
Net Debt Per Capita
0%
1%
2%
3%
4%
5%
6%
7%
8%
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Per Capita Debt / Per Capita Income
Chattanooga Low High
Net & Overlapping Debt per Capita as % of Per Capita Income
Debt Service Fund as a % of General Fund Expenditure (Excluding Transfers Out)
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0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
14.00%
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Debt Service as a % of General Fund Expenditures
Aaa Aa
Positive
0%
2%
4%
6%
8%
10%
12%
14%
16%
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Debt Service / General Fund Operating Expenditures(including Transfers Out)
Chattanooga Low High
Debt Service Fund as % of General Fund Operating Expenditures (Including Transfers Out)
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Overlapping Tax/Market Value of Taxable Property
Chattanooga Low High Very High
Overlapping tax as % of Market value of Taxable Property
ISS ADDITIONAL DEBT SERVICE COVERAGE (ADS) RATIOS
0.00
0.20
0.40
0.60
0.80
1.00
1.20
1.40
1.60
1.80
Actual 1.52 1.53 1.45 1.41 1.19 1.07 1.22 1.24 1.22 1.11 1.29 1.34 1.23 1.13 1.17
FY97 FY98 FY99 FY00 FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY10
ADS ratio is current year revenues available for debt service divided by current year total debt service. Indicates the financial margin to meet total ADS with current revenues available for debt service (a key ratio per Fitch) Fitch benchmark is 1.8 “A” and 2.3 for “AA”. Days cash on hand, another key ratio is 535 days vs. 332 days for “AA” rated systems. Indicates financial flexibility.
Interceptor Sewer Key Ratios
3-Year Historical Average ADS Coverage
0.0
0.5
1.0
1.5
2.0
2.5
3.0
2006 2007 2008 2009
X Co
vera
ge
City's ISS AAA Median AA Median A Median All credits
Most recent three-year historical average of annual revenues available for debt service divided by respective debt service for the year. This ratio indicates the historical trend in additional debt service coverage.
Interceptor Sewer Key Ratios
Current-year revenues available for debt service divided by current-year debt service. This ratio indicates the financial margin to meet current annual debt service with current revenues available for debt service.
Current ADS Coverage
0.0
1.0
2.0
3.0
4.0
5.0
2006 2007 2008 2009
X Co
vera
ge
City's ISS AAA Median AA Median A Median All credits
Interceptor Sewer Key Ratios
Days Cash on Hand - Current
200250300350400450500550600
2009
# of
Day
s
City's ISS AAA Median AA Median A Median All credits
Current unrestricted cash and investments plus any restricted cash and investments (if available for general system purposes), divided by operating expenditures minus depreciation, divided by 365. This ratio indicates financial flexibility.
04/21/23 38
Questions & Comments