CIP 2027-2031 (Final) - Flipbook - Page 18
PROPOSED 5 YEAR CIP - 1ST READING
JULY 16, 2026
Stormwater Utility Fund
The Stormwater Utility Fund primarily supports projects related to the enhancement and
expansion of the City’s stormwater infrastructure. Stormwater utility fees are collected
monthly from every parcel within the City and are used to fund this vital service. Stormwater
funding is restricted, and the primary purpose of the Stormwater Utility Fund is to support
operations and capital projects that improve stormwater management. These projects may
involve construction of new stormwater facilities, maintenance of existing systems, or
implementation of stormwater best management practices.
Stormwater Funding Analysis:
Stormwater Fund projections are based upon current FY 2025/26 estimated revenues with an
annual 8% increase in the FY 2027/31 revenue stream. The total FY 2027/31 Stormwater
revenue estimate is $7,845,847 or 145% of the total revenue needed to fund all the projects and
other expenses of this fund. Considering inflation, commodities and services were estimated
u s i n g a 5% o p e r a t i n g expenditure increase for FY 2027/31.
This fund currently transfers $260,000 a year to the Transportation Fund and $74,000 to the
General Fund for administrative services. Previously, the Fund was unable to support itself
given that rates had not been increased since 2014. In October 2025, the City experienced a
freak 1,000-year flood. The Stormwater Utility suffered extensive damage, the majority of
which was not covered by the City’s insurance. The Utility did not have adequate funding to
cover necessary storm-related repairs and entered into a loan agreement with the General
Fund to cover the cost of repairs. In mid-2025/26 an independent consulting company was
contracted to conduct a rate study to bring rates up to a sustainable amount in the short term.
As a result of the study, a modest increase was approved by the City Commission effective
May 2026. For residential properties, the rate increased from $6.00 to $8.00 per month, and
from $12.00 to $16.00 per month for non-residential properties. Future year revenue streams
include this rate increase.
The approved rate adjustment is intended as an interim measure to address current revenue
needs. This interim approach was necessary to address immediate revenue needs while
preserving the City’s ability to implement a more refined and data-driven rate structure upon
completion of the Stormwater Master Plan. Over the next five years, the total estimated cost of
stormwater projects and operating expenses is $5,411,322, including transfers, with a projected
ending fund balance of $2,532,574. To maintain the City’s high level of service and to
complete all planned projects, the City acknowledges financial struggles will continue within
this fund. Rates will again be reviewed once the Stormwater Master Plan is completed.
Storm w ater Fund
Fund Balance, BOY
$
Actual
Estim ated
Proposed
Projected
Projected
Projected
Projected
FY 24-25
FY 25-26
FY 26-27
FY 27-28
FY 28-29
FY 29-30
FY 30-31
826,696
$
726,881
$
98,050
$
171,440
$
458,749
$
1,206,532
$
1,601,902
Revenue
898,340
1,025,000
1,200,000
1,296,000
1,399,680
1,511,654
Interest Earnings
31,845
34,000
35,020
36,071
37,153
38,267
39,415
930,185
1,059,000
1,235,020
1,487,071
1,591,833
1,704,922
1,827,002
1,756,881
1,785,881
1,333,070
1,658,511
2,050,582
2,911,454
3,428,904
Total Revenue
Total Funding Available
1,632,587
Less:
Operating Expenditures
340,793
440,600
462,630
485,762
510,050
535,552
562,330
Transfers out
260,000
334,000
334,000
334,000
334,000
334,000
334,000
CIP Expenditures & Encumbrances
429,207
Total Expenditures
Net Operating Incom e (Loss)
Fund Balance, EOY
*
1,030,000
(99,815)
$
726,881
913,231
365,000
380,000
-
440,000
-
1,687,831
1,161,630
1,199,762
844,050
1,309,552
896,330
(628,831)
$
98,050
73,390
$
171,440
287,309
$
458,749
747,783
$
1,206,532
395,370
$
1,601,902
930,672
$
2,532,574
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