BUDGETING & ACCOUNTING FOR GRANTS AND CAPITAL PROJECTS 2013 Municipal Professionals’ Institute Patrick Callahan, Municipal Consultant.

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Presentation transcript:

BUDGETING & ACCOUNTING FOR GRANTS AND CAPITAL PROJECTS 2013 Municipal Professionals’ Institute Patrick Callahan, Municipal Consultant

CAPITAL IMPROVEMENT PLANNING (CIP) CIP Definition - Written Document  Long range plan (4-6 years)  Planning, scheduling, & financing  Construction projects & equipment  Key- Costs & Frequency

CIP - “THE MISSING LINK”  COMPREHENSIVE PLAN  CAPITAL IMPROVEMENTS PLAN  CITY’S ANNUAL BUDGET

PARTS OF PLANNING PROCESS COMP PLAN SMART PLAN STAFFCOUNCILCITIZENS GOAL SETTING/CIP ANNUAL BUDGET

CIP - THE TOP TEN LIST 1. Systematic Evaluation of all Potential Projects - At Same Time 2. Stabilize Debt Structure 3. Consolidate Projects - Reduce Borrowing Costs 4. Public Relations 5. Preserve the City’s Infrastructure

CIP TOP TEN LIST continued 6. Economic Development Tool - City has “It’s Act Together” 7. Efficient Use of City Money 8. Foster Cooperation - Everyone has the “Big Picture” 9. Inform Other Governments - County, Schools, Cities 10. Accomplish Long Term Goals

GETTING CIP “BUY IN” Mayor/Council/City Administrator/Department Heads 1. Seek Project Suggestions 2. Ranking of Projects 3. Annual Reviews 4. Regular CIP Updates 5. Public Input

LEGAL ASPECTS OF CIP 1. Public Hearing - Code of Iowa (3) 2. CIP Levy cents/$1,000 - Voters 3. Bid Letting - Code of Iowa Emergency Levy - 27 cents/$1,000

CONSTITUTIONAL DEBT LIMIT  5% of Assessed Value - Not Taxable Value  Applies to G.O., TIF & LOST Bonds  Not Apply to Revenue Bonds, RUT Bonds, or Special Assessment Bonds

CIP PROCESS 1. Define the Criteria 2. Organize the Process 3. Develop Basic Policies 4. Forecast the Demand or Growth 5. Inventory Existing Facilities 6. Prepare Project Proposals

CIP PROCESS continued 7. Seek Advice 8. Review City’s Finances 9. Prepare Scenarios - Schedules 10. Prepare CIP Draft 11. Public Hearing 12. Final Draft - Council Resolution

CIP – First Year in the Next City Budget  Identify Expenditures and Revenues  Consider the tax levies  Review the special revenues

CIP INFORMATION  TITLE  DESCRIPTION  JUSTIFICATION  LOCATION  DEPT. PRIORITY  REVENUE IMPACT  CAPITAL COSTS  COSTS - ANNUAL  FINANCING  RELATIONSHIP  STATUS  COUNCIL PRIORITY

SOURCES OF FUNDING FOR CAPITAL PROJECTS Potential Revenue Sources 1. Municipal Debt Financing a. G.O. Bonds - Essential Purpose (No Vote) b. G.O. Bonds - General Purpose (60% Vote) c. Review Existing Debt 2. Revenue Bonds 3. Special Assessments 4. Loan Agreements

SOURCES OF FUNDING FOR CAPITAL PROJECTS Potential Revenue Sources 5. RUT Money 6. Grants and Donations 7. Lease Purchase Agreements 8. TIF/Urban Renewal Funds

SOURCES OF FUNDING FOR CAPITAL PROJECTS continued 9. LOST Revenue - Voter Approval 10. User Fees 11. Special Taxing Districts

ADDITIONAL INFORMATION 1. Municipal Debt Financing 2. G.O. vs Revenue Debt 3. G.O. vs. TIF Debt -Disclaimer- Consult the City’s Bonding Attorney

BEST PRACTICES FINAL COMMENTS 1. Annual Reviews 2. Quarterly Updates 3. How to Get Started 4. Questions 5. Comments

Contact Information Patrick Callahan Callahan Municipal Consultants 417 Kaitlynn Ave Anamosa, IA Cell: (563)