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HomeMy WebLinkAboutCity Budget HighlightsCity of Rexburg 2025 Budget Highlights Total Budget: $92,598,200 up $10,469,200 from the 2024 amended budget. Operating Budget: $45,932,700 up $3.46 million from the 2024 personnel/operations/other overhead expense amended budget. A Cost-of-Living Adjustment (COLA) of 3.33% effective on the 10/25/24 paycheck is included as well as a 12% increase in health benefits and an increase in PERSI benefits. Several new positions are also included. The General Fund has $175,000 in Contingency budget for unforeseen increases in expenditures or reductions in revenues. A carryover of $1,045,400 was included in the general fund budgeted revenues to balance the budget. Revenue, including carryover and grants, available for street maintenance, reconstruction, and the construction of new streets is $11.44 million. The budget includes a 14% decrease in highway user funds (fuel taxes) over the prior year of $371,000 to reflect the State estimates (Budget of $2.22 million in state taxes). We project to spend over $2.7 million of carryover in the street funds. We anticipate receiving $2 million in Federal Grant Funds and over $688,000 from Urban Renewal Contributions. Franchise and Right of Way Charges are over $2.3 million with $50,000 coming from the Fiber Ring Lease. Major reconstruction street projects include the following: • Reconstruction of Various Streets (LID 52 & 53) $ 2,862,000 o 1st West - Main to 1st South o 1st South - 2nd West to Center o 5th West - Yellowstone to 7th South o Birch Avenue o Park Street - Pioneer to Seagull Drive • Miscellaneous Seal Coat/Chip Sealing $ 240,000 Major new street construction projects include the following: • Overpass Studies-3 Locations-25% Match (Federal Grant) $ 2,500,000 • Traffic Signal Upgrade-2nd South & 2nd West $ 250,000 • Street Widening/Improvements-University Blvd-Near High School $ 215,000 Street operating capital-Multiple items totaling $630,000, which includes Durapatch/Crack Sealing Equipment, Asphalt Roller, Loader, Tractor, Used Vacuum Truck (50% share), Storage Shed, and a few other smaller projects. Community Safety Lighting Fund will continue to replace, add, and or upgrade light poles throughout the City ($555,600). Property tax revenues are estimated to increase about $420,000 over the 2024 budget for a total of $7,030,000. The current city property tax levy rate is still one of the lowest for most cities in southeast Idaho and other similar size cities. A portion of the estimated increase is coming from new construction ($100,000 or more) and a portion from foregone ($65,000). The largest portion of the increase is from the 3% increase allowed by state statute each year. Three new full-time personnel positions were included in the budget for a Building Plumbing Inspector (1), Street Operator (1), and a Police Patrol Officer (1). Utility rate increases are being recommended in water, sewer, and garbage. Changes would be effective October 1, 2024. The current suggested cumulative increase for all city services ranges on average between 1% and 2.7% (see Rexburg Utilities Sample Bills document). A typical residential resident would pay an additional 2.7% or $3.25 per month. A public hearing will be held for recommended rate changes. The Utility Departments intend to finish up a rate study for capacity and utility fees. Major water construction projects include well #10 building and booster construction for $575,000, water line replacements and extensions of $850,000. The water operating budget also has some significant capital items, including a hydrant fill station, used camel truck, the building of a shop extension/storage building ($700,000), purchasing and changing meters to radio reads ($325,000), and improvements at well #5/7 and #1/6 ($390,000). The Sanitation department plans to purchase a new garbage truck ($335,000) and to build a new shop ($800,000). Included in the fiscal year 2025 budget is $2,650,000 for the Wastewater Treatment Plant Construction Fund, for which we received a Federal Grant of $1.33 million. Also included is $6.9 million for replacement/oversizing of a gravity fed sewer line and lift station and the addition of a pressure line to provide improved collections and expand capacity for the Northwest side of the city. Revenues for the sewer line project include contributions from other cities that use that infrastructure of over $2.2 Million and a Federal Grant of over $3.6 Million. The wastewater operating budget also includes sewer line replacements and extensions of $1 Million. Wastewater Collections also has $568,000 in the budget for a new Aquatech cleaning truck. There are several lift stations projects in the budget that include an upgrade to the lift station at the Airport on Main Street ($425,000) and a new lift station on 12th West near the Aderra Subdivision ($600,000). A new septic pump station is in the budget for $650,000. Another large sewer project is a new wastewater line from the Northwest corner of the city to the Sewer Plant that includes a new lift station. This project is about $2.8 Million and is being funded 65% by the City and 35% by the Urban Renewal Agency. The Airport Environmental Assessment for $700,000 is in the budget as an FAA project. These projects are funded approximately 90% by the FAA, up to 5% by the State of Idaho, and the rest by the City and the County. The City is setting aside reserve funds to meet their portion of any match to relocate the airport. The city projects to have $1.13 million of reserve set aside by the end of Fiscal Year 2025. The budget includes a transfer to a reserve fund from the general fund of $300,000 to continue saving for a future municipal building and/or police station. The Parks Impact Fund has budgeted to complete Phase I of the New Park on the Teton River between Barney Dairy Road and 7th North $1.1 Million. The budget includes a contribution from the Urban Renewal Agency to help with that project of $600,000. The city also plans to finalize the design of a new park on 5th West on the Steiner Property in 2025 as well. The Park Construction Fund budget includes a new Lean-To Storage Area at the Parks Shop ($135,000). The Final phase of Radio System Upgrades paid in the Police and Fire Departments will also occur. The budget for capital improvements at the Romance Theatre includes a remodel of the storage area downstairs in the front of the building and new wall sconces and chandeliers. Both projects are to be funded using Art Promulgation Dollars. The Tabernacle Legacy Campaign will continue, and the city plans to replace the sewer line to the building, add the new HVAC system ($350,000), and begin Phase I of the Remodel if a grant and or contributions can be received totaling $1.2 Million. The city has entered into a Public Private Agreement at Riverside Park with a Developer to construct an Ice Hockey Rink. Over time the building facility and improvements will be fully donated back to the city ($240,000 in 2025 Budget). The city has agreed to provide parking and pay some upfront building, connection, and other fees and shows a budget of $200,000 for these costs. Golf has two large capital purchases/projects including a rough mower ($110,000) and the remodel of the bathrooms and other areas within the Teton Lakes Clubhouse ($160,000). The City and County are planning to set aside $60,000 or more each for the next several years to save up to replace the irrigation system at Teton Lakes that is nearing end of life. The city plans to complete the connection of all City Assets with the new Fiber Ring and will continue to work to help provide an open access network that will be made available to residents and businesses in Rexburg in the future.