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Home My WebLink About11/13/2018 12 Budget Work Session Follow-Up 5l BUSINESS OF THE CITY COUNCIL YAKIMA, WASHINGTON AGENDA STATEM ENT Item No. 12. For Meeting of: November 13, 2018 ITEM TITLE: Budget Work Session Follow-up SUBMITTED BY: Steve Groom, Director of Finance and Budget SUMMARY EXPLANATION: This is to brief council on current debt issued by the city across all funds. During budget work sessions, current and future debt issuance has been discussed and staff was requested to clarify all debt by funding source. The attached chart has been created to summarize all debt issuance, showing current balance and future payments. This is an informational item for long-term planning purposes with no action to be taken at this time. ITEM BUDGETED: STRATEGIC PRIORITY: APPROVED FOR SUBMITTAL: City Manager STAFF RECOMMENDATION: Informational item--no action necessary. BOARD/COMMITTEE RECOMMENDATION: ATTACHMENTS: Description Upload Date Type D Crtywde debt summary chart 11/8/2018 Omer Memo D memo 11/8/2018 Omer Memo City of Yakima Remaining Debt Summary-As of October 2018 77,y„ 2019 2020 2021 2022 2023 20. 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 20. IIIIii lllll .1 8798300 20,E nergy Prole,Meeting.) 001 87,500 2013 NI Police Ve.les 001 8707500 2013 MO)Fire Air Packs 52754° 8"98 699,585 69,959 69,959 9,030 0,2. 0,600 0,, 280 8087,0 2003 sundome E„anum 001 8697500 2013 Fire Apparatus 40,093 39,216 39,216 39,216 39,216 39,216 1.8078320 1995 FAIR AVENGE IMPROVEMENTS Govemmental Fully repaid 7/1/15 1,105,770 6/1/23 348,539 58,090 58,090 58,090 58,090 58,090 -6/1/27 0.00,970 00,097 00,097 00,097 00,097 00,097 00,097 00,097 00,097 00,097 6/1/29 62,000 _ 0,797 02,00 02,00 02,00 02,00 02,0 02,00 02,0 02,00 02,03 _ 5/1/26 Gene.Oblication Debt May/Nov 5,446,,0 459,795 455,995 456,695 456,700 455,908 449,508 457,336 45,234 12/1/32 Gene.Oblication Debt Jun/Dec 7,62,330 571,130 571,570 566,,0 565,210 558,410 556,050 552,850 545,0 541,980 53,230 526,90 519,430 5,050 506,350 - 281 823.00 20081,,,,re Proiect 5/1/22 Gene.Oblication Debt May/Nov 837123 7,535 71,935 7,235 71,418 281 8238320 20081,,,,re Proiect 12/1/19 Gene.Oblication Debt May/Nov 530.8 132,365 132,665 132,765 132,633 343 8677800 2009 RMI_ROAD GRADE SEPAR,ION Govemmental PEET 2 7/1/28 H'37.°H° 3-7"55 'ASH° 3-73-.7°4 3-7°.879 'HASH 3-69.228 .8.4°2 3-67.577 3-66.75 3-65.926 F 342 8317850 2010 RMI_ROAD GRADE SEPAR,ION Govemmental PEET 1 6/1/34 di224.494 84.448 84.448 84.448 84.448 84.448 84.448 84.448 84.448 84.448 84.448 84.448 84.448 84.448 84.448 42.224 F - M.,t t Mitt,2 SEPTEMBER AHHTAHT HFATST Hhai7H° HFFiTHH HTASTH HFTAHS HT". HTA7HFI HFATHH HFAHHH HTASFH HhaiTHH HFTAHFI HTA7FH HFFAHH HTHAHH HTAHTH ° .4 8468,0 2003 NAGNE3,2,2m,mENT3 Bueme ea-type water Gpemm, 7/1/23 Fi288iTFT T28,92 TS,. THA/T2 THAH/F THA299 °474 848832°2°H9 HEW WATER'NEFF 7/1/28 2.30,90 027,00 02,00 02,995 02,389 0,783 0,0, 023,2 02,900 02,300 02,755 _ 777 B0,320 2003,7077,,0,0,3,7, Baameas,„ ma,,e,„ 770, 5.03,938 27,3, 27,700 27,053 2,395 209,7 20,79 208,0 2,703 2,005 20,07 2,789 20,032 2,070 203,00 _ .4 86,320 2003 DENHN barrp,H,N3 10/1/34 ORM, 4,097,636 217,918 215,282 212,645 210,009 207,373 20,737 202,101 199,465 196,829 19,193 191,557 188,920 186,2, 183,648 181,012 178,376 - .4,8320 200B NA,E3 RmER 0,r72 FuER REHAB Busmess,, water Nae,,, 10/1/25 ORM, 9,688 48,720 48,485 48,249 48,014 47,779 47,543 47,308 ,„ „.•„,„.,„ may 2,388,692 119,150 117,663 119,863 121,863 118,663 120,463 117,063 119,513 121,813 118,963 12,13 118,113 119,863 121,450 117,875 119,025 - 403 83008,0993 wA37,,ER,07,REHA,G BUS,,,,, waste,,Reven, 7/1/13 3,,,, 47H HH7HHHH 3-99H'NAST'NAT ER FAahlTh REHAB.''API'FFF''Pe VH2Fteld'he F Revenue 7/1/13 H4H.H85 47H 83878°H 3-994 SEWER CHT-LEATl°H SYSTEM lMPR'API'FFF''Pe VH2Fteld'he F Revenue 7/1/14 9/AFITS 47H HH9HHHH 3-995 WHA'T REATMEHT FAHAlTH REHAB BuslFes"Hsle Wastewate ll Revenue 7,, 3,,988 T/2 8TH/8°H 3-995 HEIHTIBMRHMMA HHATEHTIMH ST SI BusmesDWPF TA'FFelvaTe F Revenue 7/1/15 FFAH/F 47H 84278°H 2HCHFRHHHALE HE.HBH)RH°°D SEWE BHHHesse'H3e Wastewate r Revenue 7/1/21 1,536,734 78,789 78,401 78,013 .3,47800 2005 RIVER ROAD SEWER 7/1/25 2,41,111 128,594 127,973 127,352 126,731 126,109 125,488 124,867 473,58300 2007 ULTRAVIOLET MSINFECT ION Business-Mae WaRematmRevenue 7/1/27 2,6,716 126,851 126,2M 125,638 125,031 12,424 123,817 123,210 122,603 121,996 .3 8,8300 2012 WAST EWAT ER TREATMENT P,IT Business-Mae WaRematmRevenue 6/1/32 5,5,852 277,824 277,152 276.9 275,806 275,133 2,461 273,788 273,115 272,M3 271,770 271,097 270.5 269,752 .3 8638300 2012 INDDSTRI,SEWER MAIN EXTENSI Business-Mae WaRematmRevenue 6/1/37 ,,,,,,,,,,4,24,0.1245,,,,,3.3.01,,,,,,,, 89,067 88,660 88,254 87,847 87,440 87,033 86,627 86,220 85,813 85,407 es.000 8,593 8,87 83,780 ,i,,,,,i,D8,c3,,),,33)7.,.3co„i820,967".„4,2,564,0.„82,40153 ,4,1,744,6 473 8648300...ENERGY EFFICIENCY PROJECT BUSIneSS-tne Wastemate r Revenue 3/31/33 Se pte mbm 679,102 3,826 3,826 3,826 3,826 3,826 3,826 34,826 3,826 34,826 3,826 3,826 3,826 3,826 3,826 17,413 - - 073 B7,300 2002•,737p,0,37B,,,, Busmess,, ma,„„memeo„, 770, July 708,70 3,09 3,09 3,09 3,09 3,09 3,09 39,9 3,09 39,9 3,09 3,09 3,09 3,09 3,09 3,09 3,09 _ N,EmBER 8,8,49 40,63 40,738 4,9, 40,600 403,00 40,00 405,0 40,000 400,0 281 8878300 2018 V akima Sports Complex IRefundirm Govemmental Parks-Prop Tar Charter, 6/1/35 General Oblication Debt Jun/Dec 6,452,558 400,000 400,000 400,000 400,000 400,000 400,000 400,000 400,000 400,000 400,000 400,000 400,000 400,000 400,000 400,000 400,000 52,558 2.82H'IHH 2HnAHHHitH Center YMCA Govemmental Parks-Prop Tar Charter, 12/1/42 General Oblication Debt Jun/Dec 15,0,128 420,000 420,000 420,000 420,000 420,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 847,442 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 556,686 10,184,8 8,772,475 8,691,6. 8,52,099 8,308,610 6,826,167 5,174,344 4,984,4. 4,522,341 3,597,355 2,901,011 2,827,255 2 a.on 2 539 726 1 699 866 1 639 416 982 560 1 082 153 1 081 MI6 1 000 000 1 000 000 1 000 000 1 000 000 556 686 03,0,-,a, ANT2 I,PFI PAW,MI,„A!MO,MI, OP,M,I Ma 3PM AM,ea.,22 Milj S AM,O.• :2::::::0000:0000 0000;iiiii f0.0.0.0 ------ ---- --•••••••••••• •••••••••• •••• ,.2 a,:c i i i Z.:i i i Z.:i i i Z.: it i i i i i Z• i i i Z.: ............ .......... .... ............ .......... .... 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The attached summary has been created by staff to accomplish three things: 1. Provide a single overview of the city's debt across all funds and funding sources 2. Clearly identify when debt will be extinguished and when decision opportunities will arise to contemplate how the city will best be served by further debt or not 3. To provide long-term planning to coincide with the long-term planning of capital asset projects and the long-term forecast of the city's health in general The most immediate debt maturities are: 1. The 2004 Convention Center expansion debt, paid from Lodging Tax restricted revenues will be repaid in 2019, resulting in debt repayment capacity in 2020 2. The 2013 Police Vehicle and Fire Air Pack debt, paid from General Fund will be repaid in 2019, resulting in debt repayment capacity in 2020 3. The 1995 Fair Avenue Improvements, paid form Gas Tax, will be repaid in 2019, resulting in debt repayment capacity in 2020 4. The 2008u infrastructure project debt paid out of REET 1 & 2 will be repaid in 2019, resulting in debt repayment capacity in 2020 The two points in time this tool is most useful are during the annual strategic planning and budgeting process and when debt is issued, and at the points when specific debt issues are brought for review and approval.