2019 Recommended Budget Presented By: The Honorable Scott Fadness, Mayor of City of Fishers

City Council Work Session 2019 Budget Timeline City Council Third reading and adoption of Budget City Council Work Session Budget Discussion 8/8/18 9/17/18 Finance Committee Budget Discussion City Council Public Presentation of the budget First reading, public hearing, second reading 10/22/18 8/20/18

City Accomplishments Money Magazine’s Best Place to Live – September 2017 Designation as an AARP Age-Friendly Community Record year for Economic Development 2,185 new jobs to the City Total average wage for all new jobs will exceed the county average at nearly $66,000 $64.5 million in capital investment Opening of Indiana’s First Internet of Things lab Acquisition of 70 acres of last undeveloped waterfront land in Geist Area for a City park Champion of Inclusion Award by  the Indiana Governor’s Council for People with Disabilities Awarded the Emerging Arts Champion by Nickel Plate Arts

City Accomplishments Financial Achievements Standard & Poor’s (S&P) General Obligation “AAA” Credit Rating   -The City of Fishers, Indiana has maintained a General Obligation Credit rating of AAA from S&P. - Reports have shown that less than two percent of local governments in the United States have a “AAA “bond rating from Standard & Poor’s. 11th Budget Presentation Award for 2018 Budget 29th Certificate of Achievement for Excellence in Financial Report for 2016 Comprehensive Annual Financial Report (CAFR) Audited by independent audit firm and received an unmodified opinion

2019 City Budget Context Growth and Strength: Major Initiatives: The City’s economy and population continue to grow Financial reserves remain healthy City’s estimated unemployment rate as July 2018 is 2.8%, well below the State of Indiana’s 3.5% and the United States rate of 3.9% Estimated growth in assessed value of 5.3% Major Initiatives: Continued focus on road improvements and rehabilitation Continued trail connectivity between all areas of the City Facility capital improvement and reinvestment Continued investment in public safety for both personnel and capital Internal department focus on ensuring Fishers remains a smart, vibrant, and entrepreneurial City

City Operations – Personnel Recommendations 2019 Recommended Budget Public Safety: 2 School Resource Officers – January Start 3 Sworn Police Officers – Mid Year Start 3 Firefighters – Mid Year Start 3% Salary Increase for all City employees and elected officials Continuation of the City Match up to $1,000 for 457 Benefit Plan Approved Positions: Part time Paralegal to Full Time Paralegal Sewer Utility – Swing Shift Operator

City Operations 2019 Recommended Budget Proposed Capital & Equipment – Highlights Replacement of 18 police vehicles New Fire Engine New Fire Medic Fire Extrication Kit Public Works – 7 mowers Replacement of 4 pick up trucks Replacement of 2 flat bed trucks Service Body Truck Replace chassis on Crane Truck Tandem CDL 2 message boards Hydraulic Lift Trailer

City Operations 2019 Recommended Budget Faculties, Equipment, Trails, Parks, and Roads Nickel Plate Trail Reconstruction of Fire Station Headquarters and Station #91 Reconstruction of Fire Station #93 Police Body Cameras Station 96 HVAC Replacement Replace former Police Station Windows and EIFS Cumberland Park Roof Shade Structures at Various Parks Roundabout at 126th and Reynolds Drive Roundabout at 126th and Ford Drive Allisonville Road Widening Project Various Trail Projects

City of Fishers 2019 Budget

2019 Budget overview 2019 Operating and Capital $92,160,023 All Funds 2019 Operating and Capital $92,160,023 2019 Debt Service $16,532,568 Total Budget $108,692,591 All Funds – Cash Reserve $36,024,663

Budget overview 2019 – All Funds

Budget Advertising 2019 Recommended Budget IC 6-1.1-17-3 requires online advertisement of the Notice to Taxpayers to be submitted at least 10 days before the public hearing. Online advertisement is completed by the City submitting Form 3 in Gateway. Gateway Advertising does not include all funds of the City that are budgeted for 2019. Utility funds (sewer and stormwater) are not advertised Prior year bond proceeds are not advertised 0101- General fund advertised on Gateway includes budgeting of cash balance Previous slides show all funds budgeted for 2019 and not only the ones required for Gateway advertising Advertised budget amounts and adopted budget amounts can differ based upon budget public hearings and Council decisions

City of Fishers General Fund

The 2019 City budget is a balanced budget Budget overview – General Fund Total Revenues $58,345,043 Personnel Services $43,145,264 Supplies $ 4,361,309 Contractual Services $10,800,091 Total Expenses $58,306,664 2019 Surplus $ 38,378 The 2019 City budget is a balanced budget Reserves $17,481,330

General Fund Cash Reserves 2019 Recommended Budget City has an internal cash reserve policy stating at least 50% of next year’s projected property tax revenue will be keep as a reserve There is no State of Indiana mandated cash reserve policy for municipalities Historical Surplus of required reserves Projected 2018 year-end reserve surplus $4,491,330 Projected 2019 year-end reserve surplus $4,093,152

General Fund – Expense by Department Public Safety constitutes 62% of the overall 2019 proposed general fund budget Administration department includes Human Resources, Legal Department, Public Relations, Business Solutions Group, Controller’s Office Public Works is funded by general, motor vehicle highway, sewer, and stormwater funds

General Fund – Sources of Revenue

General Fund - Revenue 2019 Recommended Budget Local Income Tax and Property Taxes are the main sources of revenue in the general fund – Combined totaling 80% of revenue received Local Income Tax is distributed based upon a formula defined in Indiana State Statute

General Fund – LIT Distribution

General Fund – Property Tax 2019 Recommended Budget A resident’s property tax rate is comprised of a number of different taxing units Residents in different areas of the City can have different rates due to township, school districts, or library tax rates Property tax bill changes from the prior year can also be due to a change in the home’s assessed value from the County Assessor Fishers 19 – Fall Creek Fishers 15- Delaware County 0.2814 Township 0.0036 0.0241 School District 1.2739 City 0.6538 Library 0.0627 Solid Waste 0.0032 $2.2786 $2.2991

Hamilton County Unit Tax Rates 2018 Certified Tax Rates

General Fund – Property Tax Selection of Hamilton County Cities Overall Tax Rates Fishers 19 - Fall Creek Carmel City Noblesville City County 0.2814 Township 0.0036 0.0675 0.0076 School District 1.2739 0.8118 1.3136 City 0.6538 0.7887 1.0735 Library 0.0627 0.0760 Solid Waste 0.0032   $2.2786 $2.0286 $2.7420

Indiana 10 Largest Cities - Unit Tax Rates Fishers has the lowest unit tax rate of the 10 largest Indiana cities * -This Chart assumes all other city tax rates will remain constant for 2019 The rates are based on a per $100 of assessed value

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