1. 2017 Preliminary Budget Summary Finance Committee/Board Review Meetings August 30th and 31st, 2016

2. 2017 Budget and Town Board Goals
The budget document is one of our most powerful and important communications tool, reflecting policy decisions, goals and priorities of the Town Board.

3. 2017 Budget Summary $26,294,931 Town of Superior
643,380 Superior Metro District #2
305,717 Superior Metro District #3
1,245,002 Superior/McCaslin Interchg
9,456,500 Superior Urban Renewal
7,025,061 Superior Metro District #1
$44,970,591 Total

4. 2017 Sales Tax Summary
Colorado municipalities (including Superior) continue to see stress on sales tax revenue growth, caused primarily by:
On-line sales continuing to take sales from traditional “brick and mortar” retail stores within Superior.
As Colorado’s population ages, spending patterns change from purchases which are typically taxed, to non-taxable transactions (travel, health care)

5. 2017 Sales Tax Summary (Continued)
In spite of these stresses, Town sales tax revenues are project to increase as follows:
2017 growth at 4.0%
New STC retail, primarily in the Sports Stable
CenterPointe
Superior Marketplace infill
2017 – 2021 planning horizon at 3.5% annually
Driven primarily by new tax revenue from hotel rooms

6. 2017 Sales Tax Summary (Continued)
Additional Reminders:
Projections assume no loss of a major retailer in Town (or the addition of a major retailer in a neighboring community, which could cannibalize Superior store sales)
50% of new sales generated in the Marketplace and Superior Town Center are not realized by the Town (these monies go either to pay off Marketplace developer reimbursement (thru 2021) or revenue share with City of Louisville – in perpetuity)

7. 2017 Sales Tax Summary - % of Revenues by Operation
General Fund

8. 2017 Sales Tax Summary - % of Revenues by Operation
CIP/Open Space

9. 2017 Sales Tax Summary - % of Revenues by Operation
Superior/McCaslin Interchange

10. 2017 Sales Tax Summary - % of Revenues by Operation
SURA Marketplace

11. 2017 Sales Tax Summary - % of Revenues by Operation
Superior Metropolitan District

12. 2017 – 2021 New Construction
New construction, both residential and commercial is generally financially positive for the Town:
High property value for new homes
Limited new demands on service delivery
Helps Town utilities become financial self-sufficient (General Fund support to these operations is minimized)
Net new revenues - $19 million one-time, $4 million operating

13. 2017 – 2021 New Construction - Residential
Calmante Patio Homes – 33 units, 2017 – 2018
Anderson Multi-Family – 120 units, 2019 – 2021
Superior Town Center – 117 units, 2017 – 2018
Resolute Multi-Family – 90 units,

14. 2017 – 2021 New Construction – Residential (Continued)
Rogers Single Family – 47 units, 2019 – 2020
Zaharias Multi-Family – 180 units, 2019 – 2021
Discovery Multi-Family – 30 units,

15. 2017 – 2021 New Construction - Commercial
Anderson Storage and Small Office – 2019 – 2021
Superior Town Center Medical Office and Two (2) Hotels – 2017 – 2018
Resolute Two (2) Hotels and One (1) Small Retail –

16. 2017 Property Tax Rates and Revenues
Diversifying revenues, operating efficiencies, debt refinancing, enhancing property valuations and growth have allowed the Board to lower at lease one (1) Town controlled property tax rates for fourteen consecutive years (including 2017).

17. GF Base Property Tax Decrease

18. SMD2 Property Tax Decrease

19. SMD3 Property Tax Decrease

20. SMID Property Tax Decrease

21. 2017 Governmental Fee Changes
New Zoning Verification Letter ($25)
NO Landscape Maintenance Fee Changes (generally the same since the Town took over this operation in $30/month for a single family home)

22. 2017 SMD1 Fee Changes 2017 – 2.5% Water and 5% Sewer
2019 – 5% Sewer only
2020 – 5% Sewer only
2021 – 5% Sewer only
“Average” Customer 2017 Impact - $2.60/month

23. 2017 SMD1 Water Fee Changes (Compared to 2016 Budget)

24. 2017 – 2021 Staffing Changes 2017 – N/A 2018 – N/A 2019 – 2020 –
Public Works Field Tech
BOCO Sheriff Deputy
2020 –
PROS Park Tech
2021 –

25. 2017 Debt Summary Existing Debt
Outstanding debt/other obligations dropping from $38M to $33.2M in 2017
SMD2/3 debt paid off after 2018 (over 5.0 mills property tax rate goes away)

26. 2017 Debt Summary Existing Debt (Continued)
SURA debt paid off after The $1 million a year that was paying SURA debt then goes to “SURA Additional Obligations” – almost $2.5 million beginning Done with this payment after Then Superior Marketplace revenue available 100% to the Town.

27. 2017 Debt Summary

28. 2017 Debt Summary New Proposed Debt
Town Hall expansion ( $3.145 million)
Windy Gap firming ( $10.5 million)
North Pool Expansion and Enclosure ( $2.8 million)