1. FISCAL YEAR 2020 BUDGET RECOMMENDATION
Feb. 4, 2019

2. FY2020 Recommended City Tax Rate = $10.3314 per thousand
PROPERTY TAXES
FY2020 Recommended
City Tax Rate =
$ per thousand
2.43% decrease from FY2019

3. PROPERTY TAX RATE Property Tax Rate Decrease of 2.43% Impact: -2.43%
% Change
$ Change
Property Tax Rate
-2.43%
-$0.26
Average Residential Payment
---
Average Commercial Payment
-1.48%
-$48.53
Average Industrial Property
-1.79%
-$87.16
Average Multi-Residential Property
-7.07%
-$132.29

4. PROPERTY TAXES

5. PROPERTY TAXES
Dubuque is the SECOND LOWEST in the state for property tax rate of the 11 largest cities.
The highest (Council Bluffs) is 77% higher than Dubuque and the average is 47% higher than Dubuque.

6. PROPERTY TAXES PER CAPITA

7. Dubuque is the LOWEST in the state for property taxes per capita.
The highest (West Des Moines) is 153% higher than Dubuque and the average is 68% higher than Dubuque.

8. CITY DEBT
City will issue $44,941,848 in new debt in the recommended 5-year CIP
City will access $18,868,490 of previously issued State Revolving Rund (SRF) loans as related capital improvement projects progress

9. CITY DEBT: FY
The City will retire $91,655,428 of existing debt over the next five years

10. CITY DEBT: FY2020-2024 New Debt Being Issued Purpose Amount
Sanitary Sewer Improvements
$16,687,926
Fire Equipment/Improvements
$6,785,346
Five Flags Improvements
$5,025,000
Street Improvements
$4,402,400
Economic Development Initiatives
$2,957,495
City Building/Property Improvements
$1,781,000
Airport Improvements
$1,127,538
General Ledger Software Upgrade
$1,000,000
Transit Bus Replacements
$986,143
Park Improvements
$600,000
Parking Improvements
$3,589,000
Total New Debt: FY2020-FY2024
$44,941,848

11. CITY DEBT SRF Debt Being Accessed Project FY2020 FY2021 FY2022 FY2023
Total
Sanitary Sewer:  Kerper Blvd. SRF
$1,390,000
Stormwater: Upper Bee Branch & Sponsor SRF
$247,668
$247,664
$495,332
Stormwater: Flood Mitigation Project SRF
$9,000,000
$1,820,958
$10,820,958
Water: Roosevelt St. Tower SRF
$2,982,200
Water: CIWA Purchase & Improvements
$1,090,000
$1,060,000
$1,030,000
$3,180,000
Total Draw Downs
$14,709,868
$3,128,622
$18,868,490

12. CITY DEBT

13. CITY DEBT: RETIRED vs. NEW
Millions

14. FY2016 – FY2020 $28,800,000 (9.77%) Reduction in Debt
CITY DEBT: RETIRED vs. NEW
FY2016 – FY2020
$28,800,000 (9.77%) 
Reduction in Debt

15. CITY DEBT: RETIRED vs. NEW FY2020 - FY2024
City will retire $91,655,928 of existing debt 
City will issue $44,941,848 in new debt 
City will access $18,868,490 of previously issued State Revolving Fund (SRF) loans
Net change is a reduction of $27,865,590 (10.44%) of debt over the next five years

16. Net Debt Reduction: FY2020 - FY2024
CITY DEBT
Net Debt Reduction: FY FY2024
Project
FY2020
FY2021
FY2022
FY2023
FY2024
Total
New Debt
$2,836,487
$13,777,669
$9,363,511
$5,186,976
$13,777,204
$44,941,848
Previously Issued SRF Draw Downs
$14,709,868
$3,128,622
$1,030,000
---
$18,868,490
Retired Debt
-$17,618,998
-$18,014,968
-$17,320,037
-$19,853,388
-$18,868,537
-$91,675,928
Net Debt Reduction
-$72,643
-$1,108,677
-$6,926,526
-$13,681,561
-$6,076,183
-$27,865,590

17. Outstanding Revenue Bonds Debt on June 30, 2020 = $150,450,197
CITY DEBT
Projected Outstanding General Obligation Debt on June 30, 2020: $116,425,803 (51% of statutory debt limit)
Available debt capacity = $111,235,671
FY2016: Dubuque was at 86.13% of statutory debt limit
FY2020 = 35% decrease in use of statutory debt limit
Outstanding Revenue Bonds Debt on June 30, 2020 = $150,450,197

18. CITY DEBT

19. Statutory Debt Outstanding % of Legal Debt Limit Utilized
CITY DEBT: FY2018 DEBT LIMIT COMPARISON
Rank
City
Legal Debt Limit (5%)
Statutory Debt Outstanding
% of Legal Debt Limit Utilized 11
Des Moines
$569,816,717
$416,130,930
73.03% 10
Sioux City
$213,569,727
$144,100,000
67.47% 9
Davenport
$330,626,114
$211,165,000
63.87% 8
Waterloo
$191,406,282
$108,225,490
56.54% 7
Cedar Rapids
$518,039,169
$271,585,000
52.43% 6
Ankeny
$245,580,138
$126,830,000
51.65% 5
West Des Moines
$359,449,675
$184,720,000
51.39% 4
Dubuque (FY20)
$227,661,474
$116,425,803
51.14%
Dubuque (FY24)
$246,428,101
$105,406,783
42.77% 3
Ames
$209,227,522
$65,480,000
31.30% 2
Council Bluffs
$241,950,558
$68,725,096
28.40%
Dubuque (FY29)
$272,076,536
$76,004,423
27.93% 1
Iowa City
$274,723,837
$66,945,000
24.37%

20. GENERAL FUND RESERVE
The reserve will increase by $2,800,000 (20.3%) from Fiscal Year Fiscal Year 2024.
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
Contribution
$1,050,000
$1,700,000
$1,000,000
$100,000
General Fund Reserve
 $16,460,491
 $15,485,326
 $16,185,326
 $16,285,326
 $16,385,326
 $16,485,326
$16,585,326
% of Projected Revenue (Moody’s)
23.81%
22.02%
22.86%
22.93%
23.46%
22.92%
22.25%

21. General Fund Reserve as a Percent of General Fund Revenue

22. CITY UTILITIES FY2019 Rate Recommendations:
Sanitary Sewer: 4.5% increase
Water: 5% increase
Solid Waste Collection: 1.63% increase
Stormwater: 6.83% increase*
*Recommendation does not change amount previously approved by City Council

23. IMPROVEMENT PACKAGES 116 of 142 requested are recommended
$830,923 recurring from general fund
$442,051 non-recurring from general fund
$304,768 from non-property tax support

24. Thursday, March 7: Public Hearing to Adopt the FY2020 Budget
FY2020 BUDGET PUBLIC MEETINGS
Thursday, Feb. 7 Monday, Feb. 11
Wednesday, Feb. 13 Thursday, Feb. 21
Monday, Feb Wednesday, Feb. 27
Thursday, March 7: Public Hearing to Adopt the FY2020 Budget
Meetings start at 6 p.m. and will be broadcast on CityChannel Dubuque