1. 2019 Recommended Budget Presented By: The Honorable Scott Fadness,
Mayor of City of Fishers

2. 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

3. 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

4. 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

5. 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

6. 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

7. 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

8. 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

9. City of Fishers
2019 Budget

10. 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

11. Budget overview
2019 – All Funds

12. Budget Advertising 2019 Recommended Budget
IC 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

13. City of Fishers
General Fund

14. 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 $ ,378
The 2019 City budget is a balanced budget
Reserves $17,481,330

15. 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

16. 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

17. General Fund – Sources of Revenue

18. 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

19. General Fund – LIT Distribution

20. 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

21. Hamilton County Unit Tax Rates
2018 Certified Tax Rates

22. 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

23. 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

24. Questions ?