2020 budget summary - superior colorado

10/24/2019

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2020 Budget Summary

October 28, 2019 Public Hearing

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2020 Budget and Town Board Goals

The budget document:• Important communications tool

• Reflects policy decisions

• Goals and priorities of the Town Board.

Following is a summary of each Board goal with specific 2020 budget items identified to address these goals

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2020 Budget Summary

• $25,811,673 Town of Superior

• 1,002,141 Superior/McCaslin Interchg

• 11,712,040 Superior Urban Renewal

• 12,118,326 Superior Metro District #1

(Town Utilities)

• $50,644,180 Total3

I. Enhance Financial Stability and Business Retention

• Downtown Superior and other select/limited development generate new one-time ($28.9 million) and net on-going revenues ($4.9 million) over the 5 year planning horizon. Helps ensure long-term financial stability, utility fiscal independence and revenue diversification.

• Diversifying revenues, operating efficiencies, debt refinancing, strong property valuations and growth have allowed the Board to lower at least one (1) Town controlled property tax rates for seventeen (17) consecutive years (including 2020).

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• 2020 Property Tax (Mill Levy) Decreases Include:

• Superior/McCaslin Interchange

• From 24 to 23.85 (down 32% from 2012)

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GF Base Property Tax Decrease

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8.805

7.930

0.000

1.000

2.000

3.000

4.000

5.000

6.000

7.000

8.000

9.000

10.000

Mil

l L

evy

Rat

e

Town of Superior Property Tax Rate Comparison -

2007 vs 2020

(10% Property Tax Rate Decrease)

2007 2020

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SMID Property Tax Decrease

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35.000

23.85

0.000

5.000

10.000

15.000

20.000

25.000

30.000

35.000

40.000

Mil

l L

evy

Rat

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Superior/McCaslin Interchange Metropolitan District

Property Tax Rate Comparison - 2012 vs 2020

(32% Property Tax Rate Decrease)

2012 2020


• Financial self-sufficiency/stability of the Town’s utility operations (SMD1) is on-going objective. From 2006 – 2015, the average annual transfer from the General Fund to SMD1 exceeded $1.5 million, or 1/3 of SMD1’s revenues.

• TOTAL five year transfer (2020 – 2024) from GF to SMD1 is $0.

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Utility Fee changes• 2020 – 5% Sewer (No Water/Storm)• 2021 – “• 2022 – “• 2023 – “• 2024 – “

• Residential Customer 2020 Impact - $1.47/month• One-time utility system connection fees increasing

by inflation• Superior’s average utility bills are 14 – 21% lower

than our neighbors9


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0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

2020 2021 2022 2023 2024

0.00% 0.00% 0.00% 0.00% 0.00%

5.00% 5.00% 5.00% 5.00% 5.00%

SMD1 Water Rate Increases - Projected versus Actual(Rate reduction because of new system growth)

Actual Projected

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• By reducing the Town transfers to SMD1, additional resources are available for critical Town needs

• Beginning in 2017 (and continuing through 2026), Superior will see the full savings from three recent debt refundings (SMD1, Open Space, SMID) - annual savings starting at $735k, increasing to over $1 million

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• Continued 2020 funding for economic development efforts

• Enhanced funding for Superior Chamber of Commerce (from $15k to $40k in 2020)

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II. Provide Excellent Public Services and Public Infrastructure

•Operating Program Enhancements:• RTD FlexRide program continuing, now with

RTD paying 100% of program funding

• Additional BOCO Sheriff Detective13


•Operating Program Enhancements:• Continued Jefferson Parkway, Oil/Gas

drilling, Rocky Mountain Airport monitoring and oversight

• $60k increase in Community Projects/Program Funding

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• Capital Programs:

• Focus 1st on Existing Asset• Street maintenance/rehabilitation – over

$3 million for 88th Street work

• Parks, recreation, pools capital improvements

• Trees, plants, shrub and landscape enhancements

• Utility system capital maintenance - $6.7 million in 2020. 15


• Capital Programs (Continued):

• Also Able to Fund New Projects

• New Highway 36 trail extension from Avista Hospital, under 88th Street bridge to Flatiron Crossing Drive - $1.45 million over two years ($1.05 million from DRCOG/Federal Government)

• Land Rover tenant improvements

• Six Pickleball courts at Autrey Park 16

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• Capital Programs (Continued):

• Also Able to Fund New Projects

• PROST master plan updates

• Final design of two new parks in Downtown Superior, next to Coal Creek

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• Capital Programs (Continued):• Windy Gap Firming project ($630k final design

2020, $27M construction (Superior’s share) beginning in 2021)

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2020 Staffing Changes

(need staff and contractors to provide these excellent public services)

• BOCO Sheriff Detective


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2021 - 2024 Staffing Changes• 2021 –• PW/Utilities Field Maintenance Technician

• 2022 –• BOCO Sheriff Deputy• PROS Park Technician• Downtown Superior Civic Space – 3 Staff

• 2023 –• None

• 2024 –• None

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III. Engage Residents through Outreach and Marketing

• Continue to fully utilize the Town’s web site

• Plan for new Town Events while keeping and many times expanding:

• Current Town special events

• Community volunteer opportunities

• Outside group activities who offer independent events in Superior

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III. Engage Residents through Outreach and Engagement

• Continue existing outreach efforts:• 1st Friday’s• Web streaming of Town meetings• Comcast channel 8 programing• Electronic message board• Town sponsored e-mail discussion lists• Town Facebook page• E-mail blasts, individual mailings/flyers• Town wide messaging service• Monthly newsletters• Routine financial reporting• Annual report on current year’s accomplishments• Mayor’s State of Superior annual address• Utility Billing messages and inserts

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IV. Open Space

• Continued open space coordination, maintenance and education efforts with Boulder County

• Work on future acquisitions

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V. Promote/Manage Development Opportunities

• Superior Marketplace revitalization and infill (i.e. Ethan Allen, Goldfish Swim School)

• Integrate/compliment the Marketplace with the development of the Downtown Superior

• Oversee additional development activity (Main Street Downtown Superior, Superior Shores/Resolute Commercial, Rogers Farm Phase II)

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VI. Encourage Environmental Sustainability

• Continued work with the Advisory Committee for Environmental Sustainability (ACES)

• Town sponsored water conservation efforts (i.e. residential water irrigation audits) and a rebate program intended to replace residential high water flow devices, irrigation controllers and sprinkler heads 25

2020 Budget – Revenue Assumptions

• Property tax revenues up – new construction and increasing property values

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• 2020 property tax rates flat, decreasing:

• Rates same as 2019

• Town/Library - 7.93/1.50 mills

• Rates lower than 2019

• SMID – 23.85 mills (down from 24.00). This rate is down 32% from 2012.

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• Sales tax revenues (over $10.8 M) increasing at inflationary levels, helped by - Superior Marketplace infill (furniture stores and goldfish swim school) and 1st full year for the Element hotel

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• Sales/Use revenues fund a majority of Town operations:

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56%

44%

Town of Superior - General FundSales/Use Tax Dependency

GF Sales/Use Revenues GF Other Revenues


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97%

3%

Town of Superior CIP Sales/Use Tax

Dependency

GF Sales/Use Revenues GF Other Revenues

95%

5%

Town of Superior CIP Sales/Use Tax

Dependency

Sales/Use Revenues

Other Revenues

100%

Town of Superior Open Space

Sales/Use Tax Dependency

Sales/Use Revenues

Other Revenues

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2020 Budget – Debt Summary

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• Existing Debt

• SURA debt paid off early 2022. Then the monies used for this debt (+$2 million/year) flow to the Town’s General/Capital operations.

• New Debt for Land Rover Purchase ($4.2 million)


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• Existing Debt (Continued)

• Outstanding debt/other obligations at $23.6 million by the end of 2020 (down from a high of $71 million in 2006)

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33


$0

$10,000,000

$20,000,000

$30,000,000

$40,000,000

$50,000,000

$60,000,000

$70,000,000

$80,000,000

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Town of Superior - Outstanding Debt/Other Obligations Summary 2006 - 2024

SMD No. 2 (2018) SMD No. 3 (2018) SMID (2024) SMD No. 1 (2025)

Open Space (2026) SURA (2019) SURA Other (2022 Est.) Land Rover (2034)


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• Future Debt (2021 – 2024)

• Wastewater Treatment Plant Improvements (2021 - $5 million, 2024 - $7.3 million)

• Land Rover Tenant Improvements (2021 - $2.2 million)

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2020 Budget – Fee Changes

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•Governmental, minor updates

•Utility Operations• 5% increase to wastewater usage fees

• No water or storm drainage fee increase

• One-time system connection fees –increasing by inflation

2020 budget summary - superior colorado

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