Mayor Mike T. Huether March 31, 2016/media/Documents/mayor/... · General Revenues *2013 includes...
Transcript of Mayor Mike T. Huether March 31, 2016/media/Documents/mayor/... · General Revenues *2013 includes...
![Page 1: Mayor Mike T. Huether March 31, 2016/media/Documents/mayor/... · General Revenues *2013 includes $6.3 M for ice storm reimbursement. $97.2 . $107.9 . $112.1 . $110.9 . $115.4 . $118.9](https://reader034.fdocuments.net/reader034/viewer/2022043007/5f927ad919a2034d03255182/html5/thumbnails/1.jpg)
Mayor Mike T. HuetherMarch 31, 2016
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Sioux Falls Is Very Strong Financially
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General Revenues
*2013 includes $6.3 M for ice storm reimbursement
$97.2 $107.9 $112.1 $110.9
$115.4 $118.9 $125.3
$139.9* $138.0 $143.9
$0
$20
$40
$60
$80
$100
$120
$140
$160
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Mill
ions
Property Tax Sales Tax Other
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General FundOur “Piggy Bank” Is Full
Beginning Available Fund Balance $46.1 M
Revenues 144.1 M
Expenditures 146.8 M
Net Revenues and Expenses (2.7) M
Net Change in Restricted 0.2 M
Change in Fund Balance (2.5) M
Ending Available Fund Balance $43.6 M
% Available to Budget
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Available General Fund BalanceWe Have $43.6 Million in Reserves!
31.1%
34.2%
38.1%
34.5%33.7%
35.6% 35.6%
32.3% 32.7%
28.9%
0%
5%
10%
15%
20%
25%
30%
35%
40%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
$31.
6M
$41.
7M
$41.
1M
$42.
1M
$37.
0M
$46.
1M
$45.
8M
$45.
2M
$43.
4M
$43.
6M
25%City Goal
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Fargo, ND $4,638Lincoln, NE $4,530Sioux City, IA $3,178Omaha, NE $2,978Des Moines, IA $2,880Topeka, KS $2,774Rochester, MN $2,733Sioux Falls, SD $2,258Rapid City, SD $2,037Source: PFM (November 2015)
Per Capita DebtSioux Falls Is Very Cautious With Debt
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Don’t Just Take Our Word for ItSioux Falls
Moody’s Bond Rating of Aa2
Aaa Prime, maximum safety
Aa1 Very high grade/quality
Aa2 Very high grade/qualityAa3 “
A1 Upper medium quality
A2 “
A3 “
Baa1 Lower medium grade
Baa2 “
Baa3 “
Ba1 Speculative
Ba2 “
Ba3 “
B1 Highly Speculative
B2 “
B3 “
Caa1 Substantial Risk
Caa2 In poor standing
Caa3 “
Ca Extremely speculative
C May be in or extremely close to default
Default
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The Sioux Falls Economy Is Booming
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* MSA Nonfarm Wage and Salary Workers
125,000
130,000
135,000
140,000
145,000
150,000
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Strong Job Creation
3,000+ Jobs Added in 2015 Alone
Jobs
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$463 $442
$506 $454
$298 $283 $287
$491
$588 $620
$676
$0
$100
$200
$300
$400
$500
$600
$700
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Mill
ions
Record Building Permits
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Top Building Projects in 2015: • Good Samaritan Society’s National Campus: $24.6 M• Sanford Imagenetics: $22.7 M• Augustana University Froiland Science Complex: $20.4 M• Midco® Aquatic Center: $20 M• Southeast Technical Institute’s Laboratory: $19 M
Dreaming, Investing, Building
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Pre-2010 Current
Live Residential Vacancy Rates
14%(2010) (2015)
Work Office Vacancy Rates
17%(2009) (2015)
Play Retail Sales $151 M(2009) (2013)
Downtown Has Never Been More Vibrant
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Our Quality of Life Is Second to None
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of citizens will remain in Sioux Falls and would recommend
Sioux Falls as a place to live.
“It is only getting better.”
Over 90%
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• 100th busiest in the world• $1.9 million net
operating income• NCAA Division I
Basketball Regional• CMA nomination• More than $80 million in private investment since 2012
Denny Sanford PREMIER Center
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• Opening this fall• Paid for with cash• The best swim
facility within 500 miles
Midco Aquatic Center®
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388 miles of roadways repaired since 2010
Spearfish, S.D.
Sioux Falls, S.D.
Our Citizens Demand Good Roads
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Public Safety Is a Priority
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Additional Police Staff
248 249254
262 262 262 264269
282
289
220
230
240
250
260
270
280
290
300
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Posi
tions
41 Positions Added Over the Past 10 Years
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We Hold Bad Neighbors Accountable Here100%
62%
38%
86%
21%
40% 39%
65%
39%
30%
56%
14%
23%
13%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Homicide Rape Robbery AggravatedAssault
Burglary Theft StolenVehicle
Cle
aran
ce R
ate
2015 Clearance Rates
City National
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• A sergeant was added to oversee the downtown area and develop relationships with businesses and residents.
• All three shifts now have specific downtown officers.
• Foot and bike patrols remain a priority in the Downtown, Pettigrew Heights, Whittier, Cathedral, and All Saints areas.
Downtown Is in Good Hands
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• I.S.O. Class 1 and accredited
• No fire fatalities in Sioux Falls since 2013
• Paramedics Plus Ambulance Service
• Fire Station 11
Fire Rescue: Among America’s Finest
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We Still Have Challenges, Sioux Falls.
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3.9%
3.0%
3.5%
2.9%3.4%
2.6%
1%
2%
3%
4%
5%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec2013 2014 2015 2016
We Need Good WorkersSioux Falls MSA Unemployment
2.7%
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• 1,228 full-time City employees • 2015 turnover rate: 8.24%• 3,579 employment applications in 2015• 769 interviews in 2015• 94 openings in 2015• Expecting approximately 90 job openings in 2016
The City Needs Workers, Too.
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• Long-term solution to long-standing need
• Essential to keep up with growth
• Prudent use of taxpayer dollars
• Ideal location• Big step forward to
better customer service
City Administration Building
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• Everyone wants something. • Nothing is for free.• Can’t be beholden to special interests.• Tough decisions will be made.• Must focus on the city as a whole.
Prioritization of Your Taxpayer Dollars Is Critical
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The next two years may seem boring
compared to the past six.
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2016 Capital Improvement Plan:• $35.3 M in Highways and Streets • $7.4 M in Parks• $72.5 M in Utilities
Repair, Rebuild, Replace Our City’s Infrastructure
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Leave Sioux Falls on Sound Financial Footing
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29%
26% 25% 25% 25% 25% 25% 27% 27%29%
31%
0%
5%
10%
15%
20%
25%
30%
35%
40%
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Solid Reserves Into the FutureAvailable General Fund Balance
25%City Goal
$43M
$40M
$41M
$42M
$43M
$45M
$48M
$52M
$57M
$64M
$72M
Fire
Sta
tion
11
Fire
Sta
tion
12
Fire
Sta
tion
13
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Maintaining Critical Infrastructure
$90 $99
$110
$152
$172
$0
$20
$40
$60
$80
$100
$120
$140
$160
$180
$200
2012-2016Plan
2013-2017Plan
2014-2018Plan
2015-2019Plan
2016-2020Plan
Mill
ions
Water Water Reclamation
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$277 $279
$399 $385
$362 $337
$381 $364 $356 $335 $327
$100
$150
$200
$250
$300
$350
$400
$450
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Mill
ions
Prudent Debt Levels
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• Redevelopment process begins this summer/fall
• Proposals selected in 2017
• Groundbreaking in spring 2018
Prepare Downtown Railyard Property for Redevelopment
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Lay Groundwork for Levitt Pavilion and Phase 3 of the River Greenway
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Maintain High Level of Confidence and Get Things Done for Sioux Falls
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Rebroadcast Schedule for 2016 State of the City Address:(through the end of April)
Mondays 7:30 p.m.Tuesdays 6 a.m.Wednesdays 1:30 p.m.Thursdays 7:30 p.m.Saturdays 1:30 p.m.Sundays 11 a.m.