CIP - FY 2025-29 FINAL - Flipbook - Page 22
Capital Improvement Plan
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 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.
Revenue and expenditure projections were previously discussed on page 5.
The City strives to enhance its stormwater infrastructure to meet the needs of its growing
community, while prudently managing the associated costs to ensure long-term sustainability and
resilience.
Stormwater Funding Analysis:
Over the next five years, the total estimated cost of stormwater projects is $5,626,674, including
operating costs and transfers, with a projected deficit ending fund balance of ($154,857). The City
does recognize the need for sufficient revenues and resources to accommodate necessary future
projects. In order to complete all planned projects, the City must consider additional funding
sources. The most fiscally responsible option to address the funding shortfall and to allow for future
stormwater projects is to raise stormwater rates that have remained the same for over a decade,
with a current monthly rate at $6 for residential properties and $12 for commercial properties. This
could be accomplished with an annual CPI increase.
The City is currently in the process of conducting an expansive rate study to encompass water,
wastewater, stormwater, and water and sewer impact fee rates. To ensure transparency and
objectivity, an independent consulting company has been contracted to conduct the rate study. The
end result is to enable the City to secure the necessary funding for upcoming projects while
ensuring that any adjustments to water, wastewater and stormwater rates and water and sewer
impact fee rates are fair and implemented accordingly. The results of the study will play a pivotal
role in facilitating sustainable growth and development of the City’s utility, water, wastewater and
stormwater infrastructure as well as the growth and development of the City itself.
Table 4
Stormwater Fund
Fund Balance,
Beginning of the Year
Revenue
Interest Earnings
Other Revenue
Total Revenue
Total Funding Available
Less:
Operating Expenditures
Transfers out to Street
Improv. Fund
CIP Projects
Total Expenditures
Net Operating Income
(Loss)
Fund Balance, End of
Year
Actual
FY 21-22
$ 740,514
860,596
2,374
2,510
865,480
1,605,994
Actual
FY 22-23
$
720,321
874,322
17,870
892,192
1,612,513
Estimated
FY 23-24
$
802,615
875,000
15,000
200
890,200
1,692,815
Proposed
FY 24-25
$
709,824
895,000
31,000
926,000
1,635,824
Projected
FY 25-26
$
411,543
901,250
15,450
206
916,906
1,328,449
Projected
FY 26-27
$
10,481
928,288
15,914
212
944,413
954,895
Projected
FY 27-28
$
187,138
956,136
16,391
219
972,746
1,159,883
Projected
FY 28-29
$
(178,106)
984,820
16,883
225
1,001,928
823,822
315,415
295,867
338,885
338,885
492,968
507,757
522,989
538,679
288,883
281,375
885,673
274,530
239,501
809,898
390,608
253,498
982,991
460,396
425,000
1,224,281
260,000
565,000
1,317,968
260,000
767,757
260,000
555,000
1,337,989
260,000
180,000
978,679
(20,193)
$ 720,321
82,294
$
802,615
(92,791)
$
709,824
(298,281)
$
411,543
(401,062)
$
10,481
176,657
$
187,138
(365,244)
$
(178,106)
23,249
$
(154,857)
NOTES:
1. Beginning Fund Balance in FY 2023/24 ties with ACFR for FY 2022/23 Year-end balance
2. Revenue Projections going forward include a 3% annual increase for FY 2024/29
3. Expenditure projections include an inflationary increase of 5% per year for FY 2024/26 and an inflationary decrease
of 3% per year for FY 2027/29
4. CIP Expenditure projections for 2024/29 are based on estimated costs for CIP projects
5. Assumes that project budgets are fully spent each year going forward
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