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CITY OF VIRGINIA BEACHJ VIRGINIA
ESTIMATED GENERAL FUND BALANCE AND
DEBT POLICY CALCULATIONS
FOR FY 2006..07
Estimate of GeneraJ Fund Balance
Beginning Fund Balance at July 1l 2005
$
139,401 ,582
Add:
Estimated FY 2005-06 Revenues
Surplus from Sandbridge TfF
871]289]845
9,000,000
1 j019l691 ~427
Total Fund Balance and Revenues
$
Less Anticipated FY 2005-06 Expenditures:
Operating Expenditures
Schoo! Operations *
Other Transfers
$ 397,695j 783
272)313]160
220,145,818 890r154,761
$ 12915361666
$ 8,648,147
5]600,000
4,300tOOO
3,696} 769
9,875]976 32,120,892
$ 97,415r775
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Total Projected Fund Ba~ance at June 30j 2006
Less Anticipated Uses of Fund Balance:
LoanSI Advances! and Prepaids
Encumbrances and Carry forwards
General Fund for Future Programs
Crty/School Revenue Formula True-Up
FY 2006~07 Capitaf Budget
Total Estimated Undesignated Fund Balance at June 30f 2006
Calculation of Undesignated Generaf Fund Balance Reserve
Projected FY 2006-07 Genera! Fund Revenues
$
959]826,428
Undesignated Fund Balance as a percent of FY 2006-07 Revenues
10.150/0
The fund ba[ance policy requires a mrnrmum of 80/0 of undesignated fund balance-
The City strives to maintain its undesignated fund balance at a higher level to strenghthen its standing tn the
bond market and to enhance its ability to react to unforseen events in the future. if the City maintained its
FY 2006--07 Undesignated Fund Balance at 80/0, the amount woutd be $7617861114.
* Reflects full transfer amount but some reversion to Schools is anticipated and included in this number
Reserve at 80/0
Reserve at 90/0
Reserve at 100(0
76,786,114
86j384,379
95j9821643
Difference
20,62H,660
11 t 031 ,396
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Potential Tax Revenue Enhancements
Tax Revenue Impact Comment
Real Estate Tax $4.5 million per penny in FY 07 Issue of combined tax and
(proposed $0.99) assessment increases; City
has lowest tax rate in area;
R.E. is tax deductible.
Personal Property Tax 10 cents generates Rate was reduced by 10
(majority of P.P. levied at approximately $3.3 million cents in FY 95 ($3~ 70); all
$3.70) cities in the region are above
$4rOO; 100% of the increase
would be borne by citizens
rather than 63.80/0 state &
36.20/0 resident; could be
add itiona I ad m i n istrative
burdens.
Utility Tax ($3.0 per Raise rates on commercial) non Approximately half of the
month on resjdential and telecommunication (we are at other localities have rates
charges vary on state cap on resjdential, and above our commercial rates
commercial) State is restructuring and half are below.
te~ecommunication taxes, and
localities wiJllose ability to raise
these rates}; difficult to quantify
impact of raising rates on non
te Ieee m m u nica tic n uti I ities
without analysis) but could
generate $1..$2 mill i on.
Auto Licenses ($26 $3.5 additional permitted under This increase would place
proposed in FY 06-07 for the Code of Va; each $1 our license charge at the 2nd
one year to fund VB 2007 increase generates highest in the region; raising
Celebration) approximately $374,OOO~ ($1 of the Hcense fee requires 90
the potential j ncrease would have to be day notification to DMV,
eliminated in 20081 since the City since they collect fee for city.
cannot exceed the state fee, which
sunsets by $1 rn 2008).
Cigarette Tax ($+50 per $209l500 per penny State may eventually cap
pack) local rates; Norfolk ($~55)1
Hampton ($.65)1 NN ($.65);
others at $.50).
Amusement Tax (10% & 1 % generates $532,000 (If each City current rate matches
50/0 participatory) were raised by 1 Ok) highest in region & state
Hotel Tax (8.00~) 1 cent generates $2.44 million Our current rate matches the
region highest; we already
exceed the rates of Myrtle
Beach and Ocean City
Hotel Flat Tax ($1 per $1 generates approximateJy Chesapeake established
room night) $2.2 minion and then rescinded a flat tax
for non tourism purposes.
Meal Tax (5.50/0) 1 cent generates $8.6 million Chesapeake & Suffolk are at
5~50/o while all the other
major cities are at 6.50/0
Refuge Collection Fee To be estimated Chesapeake & Suffolk are
the only other major regional
cities that don't charge a fee.
Notes: We are at the state cap for BPOL; Cell Phone; Franchise (Federal cap); Deeds; & Wills. The Staters
restructuring of the telecommunlcations tax structure also elim1nated the abiHty of ~ocallties to impose a separate
uti lity tax on cable and a right-of~way fee on telephones.
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Projections for the Agricultural Reserve Program
No. of Value of Avg, Cost Avg. !nteresl Avg. Interest
~ ss us: Acres Develooment RiQhts Per Acre Rate Pavment
COMPLETED AGREEMENTS:
FY 1996-97 835- 60 $2,211,066 $ 2 ~ 646 7.201 % S26}16
FY 1997-98 2t692.55 $6,949,719 $2,581 6_5300/0 5351336
FY 1998-99 479.82 $1,034,361 $21 156 5_6200/0 S 14,388
FY 1999~OO 499.46 52,442,859 54, B 91 6.171%~ $50,248
FY 2000~O1 924.67 32,166,758 $2,343 5,858S'a S18,145
FY 2001~O2 585.71 $3,6441389 $6,222 5-9580/0 $26 t950
FY2Q02-03 586.95 $2~013 J 935 $ 31431 5_2630/0 311,108
FY2003&04 206.23 $1,079,365 55,234 5.416%, $14,949
FY 2004~O5 213.7 5799.638 531742 4,611%~ $9,310
FY 2005-06 29.83 $167t048 $5,600 4.S36~~ $7,577
COMPLETED AGREEMENTS 7,055 $22,509j 138 $3,885 5.774% $21 t473
FUTURE PURCHASES:
FY 2005-06 270.00 St6Z0,OOO $6,000 6.000o~ $97,200
FY 2006-07 300 ~ 00 S3jOOO,OOO $10l000 6.00Qo,k 5180,000
FY 2007~08 300- 00 $3,450tOOO $11,500 6-000o/iJ $207 tOOO
FY 2008~O9 300.00 $3.967]500 $13,225 6.0000/0 $2381050
FY 2009~10 300.00 $4,364,250 $141548 6.0000/0 $261,855
FY 2010~11 300.00 $41800,675 $16,002 6_000o~ $288,041
FY 2011~12 300- 00 $51040,709 $16,802 6-000% $302.443
FY 2012~13 300.00 $5,292r744 $17,642 6.0000~ $317,565
FY 2013-14 300.00 $5~5571381 $18,525 6.0000/0 $333,443
FY 2014~15 300.00 $5,8351250 $191451 6.0000/0 $3501115
FY 2015-16 300.00 $6,127,013 $20,423 6.0000/Q $367,621
FY 2016-17 300- 00 $6j433,364 $211445 6-0000/0 S386tOO2
FY 2017.18 300.00 $6,755,032 $22,517 6.0000/0 $4051302
FY 2018~19 300.00 $7,0921783 $23,643 6.0000/0 $425,567
FY 2019-20 300 _00 $7 t44 71423 $241825 6.000%~ $446,845
FY 2020-21 300.00 $7,8191794 $26,066 6.0000/0 $469,188
FY 2021 w22 300.00 58]210,783 $27,369 6.0000/Q $4921647
FY 2022-23 300- 00 $8j621 ~323 $28,738 6-0000/0 $517,279
FY 2023~24 300_ 00 $9,0521389 530,175 6.0000/0 $5431143
FY 2024-25 300.00 $9~505,OO8 531 t683 6_0000/0 $570,300
FY 2025-26 300.00 $9t980j259 $33,268 6.0000/0 $598,816
TOTAl OF FUTURE PURCHASES 6,270 $129,973,679 $20,659 6.0000/0 $371,353
TOTAl FUTURE & COMPLETED 131325 $152,482,817 $5,410 5~742~%, 53,280
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School Funding
Adjusted Proposed Proposed
FY 2005 ~ 06 FY 2006 .. 07 FY 2007 ~ 08
School Operating Fund
Revenues
CUy of Virginia Beach $268,713,519 $311,885J746 $347,849,020
State Basic Aid 177,531l638 19313381539 186 J565l592
State Sales Tax 70r621l940 80j495,093 84,946,139
Other State Revenue 68l475,414 7413481986 79)340,105
Federal Revenue 141371,131 14,771,131 14t 7711 131
Other Local Revenue 2,698J594 2j698,S94 2,698.594
Operating Fund Revenues $602J412~236 $677,538,089 $716,170t581
Appropri ati ons
Instruction $477~897j715 $538 t 700,909 $568~836~285
Admin1 Attendance, Health 20~913,234 22l984,779 24tOO3J243
Operations and Maintenance 77,542l313 8914151253 95,742l004
PupH Transportation 26r058j 974 33,553j556 351797,022
City Manager Adjustments:
Real Estate Tax Reduction -7,893,258 -8l984,823
BRAe Reduction -3~884~250 -3l884,250 \.Q
Decreased Transfer to CtP 4,661) 100 4,6611100 ~
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Operating Fund Appropriations $602,412~236 $677,538,089 $716,170,581 M
Other School Funding
Cafeteria Fund $22r754,582 $25t411l511 $26J275r90 1
Ins tructiona I Technology 6t636jOOO 6,636jOOO 6J636jOOO
Vending Operations 11751,000 1,365jOOO 1 J365,OOO
School Textbooks 9,087.856 7,477.925 7,410l643
SchooJ Athletics 4,277,656 4,499,489 4r553j568
Communications Tower 1 j250,OOO 400,000 5001000
Grants 57j571,269 55.921 ,031 53l620, 1 09
Subtotal Other Funds $103,328,363 $101,710,956 $100,361,221
City Revenue Supported
Capitat Improvement Program $17J597t408 $12~936~308 $12l936,308
Debt Service 40J912t433 40J282J967 411979t229
Total School Funding $764,250,440 $832,468,320 $871 ~447 ~339
CitylSchools Revenue Sharing $327,223l360 $365~ 105,021 $4021764,557
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City of Virginia Beac h$ Virginia
Fiscal Years 2006..07 through 2011...12 Capital Improvement Program
Project # and Title~ 9-060 Oceana & Interfacjljty Traffic Area Conform ity & Acq u isition
Responsible Dept.: Management Services
Total Total
Programmed Appropriations
Costs To Date
93,700,000 3 t 7 00 ~ 000
Description and SeoDe
This project wBI purchase land or interests in land and facilitate the conversion of non-conformlng property uses under the Navy1s
OPNAV Instruction to conforming uses in the Accident Potential Zone 1 (APZ-1) areas surroundjng NAS Oceana, and for the
purpose of purchasing land or interests tn land or property in the Interfacility Traffic Area (ITA) between NAS Oceana and NALF
Fentress, all consistent with the City's APZ...1 Use and Acqu~sition Plan and the ~nterfaciHty Traffic Area Property Acquisition
Plan. Annual fund Ing from FY 2006...07 onward will be $15 m1Hion to be shared equally among the City and the State-
Purpose and Need
This project is needed to comply by the end of March 2006 with the Federal Defense Base Realignment and Closure
Commission (BRAe) directives that were Issued in August 24l 2005 and became law in November, 2005.
Historv and Current Status
This js a new project rn the FY 2006-07 CIP- On December 201 2005, City CouncU adopted a uPlan for Comp!iance with the
BRAe Commissron1s Dedslon Regarding NAS Oceana'11 which included property acquisition plans for property [n Accident
Potential Zone 1 and the Interfacility Traffic Area. The APZ~1 Use and Acquisition Plan, dated December 14, 2005, and the
Interfacility Traffic Area Property Acquisition Plan, dated December 151 2005, call for the establishment of an acquisition project
or fund to manage the revenue and expenditures associated with the voluntary acqulsitions of affected properties. On March 7,
2006, Council appropriated $3.7 million from the Agricultural Reserve Program Fund Balance to purchase land or interests in
land from wiUing seHers in the Jnterfacility Traffic Area.
Budget
Yea r 1
FY 2006..07
15J 0 00 I 0 00
Year2
FY 2007-08
15,000 I 0 0 0
j Busine- 55 Area: Economic Vitality
UnaocroD riated SubseQuent Years
Year 3 Year 4 Year 5
FY 2008-09 FY 2009..10 FY 2010-11
151000}OOO 15,000,000 15,000,000
Year 6
FY 2011...12
15JOOOlOOO
F u lure
Programming
Requirement
o
Operatina Budqetarv ImDact
Basis for Estimate
FY 2006-07
o
FY 2007 -08
o
FY 2008-09
o
FY 2009-10
o
FY 2010.11
o
FV 2011..12
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Schedule of Activities
Activity
S [te Acquisition
T oial Budgetary Cost Estimate
Tota' Non-Programmed Costs
Total Programmed Costs
From · To Amount
07/06-06112 93,700~OOO
931700,000
o
93 t 7 0 0 J 00 0
NO MAP REQUIRED
Means of Financinq
Fundinq Source
Fund Balance - Agriculture Reserve
Operating Budget - General Fund
State Co ntrj b utio n
Tota! Programmed Flnanc1ng
Future Funding Requirements
Amount
31700,000
45jOOO,OOO
45,OOO~OOO
93,700,000
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Projects Included in the Current CIP
But Deleted in the FY 2006..()7/FY2011-12 CIP
Requested But Not Funded
Project
Number
Proiect Tit Ie
Buildinas
3.244 Fire and Rescue Station -- Chesapeake Beach
This project would replace the existing 9,760 square foot facility Supporting 4 Fire and
2-to-5 EMS personnel, 1 fire engine and 1 ambulance on a daily basis and various
other pieces of equipment that is infrequently used (ranging from fire trucks to zodiac
boats). The existing facillty has 2 drive through bays (2 vehicle capacity each)
and 3 front load only bays (1 vehicle capacity each). The replacement will be a more
efficient 3-bay facility ranging from 13,800 to 14,200 square feet. A range was
provided for the size of the facility based on the General Booth and Sandbridge
stations that were most recently constructed. The replacement facllity would house
both Fire and EMS personnel and equipment. A new locat~on would need to be
identified as the existing site is not strategically located for the service demand~
A site in the Shore Drive/Pleasure House Road/Northampton Boulevard area would
be preferable to meet the demand for service. This project was shown as requested
but not funded in the FY 2006-07 CIP to balance against ~ower pay~go fundjng.
3.369
Leroy Drive Master Plan and Facility Replacements
This project provides for the development of a Master Plan for the Leroy Drive
municipat complex (estimated cost $2001000), the replacement of the Automotive
Services' Fire Vehicle and Appara1us Shop with a 12j800 square foot pre-engineered
building (estimated cost $7001000), and a consolidated replacement facility (25,000
square feet) for the Police Department's Animal Control and Special Operations
bureaus (estimated cost $2,600l000). This project was shown as requested but not
funded in the FY 2006-07 CIP to balance agatnst lower pay-go fundIng.
Estimated cost is net of funds previously provided ($200,000).
34344 Police Fourth Precinct - Replacement
This project would provide funding to replace the current 61017 square foot Fourth
Precinct with a new 17 lOOO square foot facUity. Thls would also include required
parking and storage faciJities. The Fourth Police Precinct service area encompasses
the entire Kempsville area south of Interstate 264] extending east to Lynnhaven
Parkway and south to the Chesapeake Hnet and services approximately 1401000
residents. Based on the study conducted in CIP # 3-230r the total cost estimate is
$4j874,949. This project was shown as requested but not funded in the FY 2006~07
CIP to balance agaInst lower pay-go funding.
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3.041 Virginia Aquarium Elevated Pedestrian Crosswalk
This project is to provide pedestrIan access from the parkjng lot expans~on for the
VirginIa Aquarlum and Marine Science Centerl which was open to the public July 16l
2004. The etevated crosswalk would be located south of the existing main entrance of
the museum and connect south of the future entrance of the new parklng lot crossing
over General Booth Boulevard. The project would provide for handicapped access
and nghting. Design for this project was completed in February 2006. In the FY 2006-
07 CIP, thfs project was removed from the C1P with all available funding transferred to
higher priority Aquarium projects # 3...322 Virginia Aquarium Original Exhibit Gallery
Renovation ($1,666,676) and 3~292 Virginia Aquarium An~mal Care Annex ($8211145)
to fund increased construction costs~ Estimated cost is net of funds previously
provided ($512, 179).
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CITY OF VIRGINIA BEACH, VIRGINIA
FY 2006-07 AND FY 2007-08 BIENNIAL BUDGET
SUMMARY OF COMPENSATION INCREASES
(Not including Internal Service Funds)
FY 2007-08
Proposed
FY 2005-06 FY 2006-07 with
Adiusted Proposed Rollover
Personal Services:
Salaries $ 282,975,889 $ 289,149,877 $ 291 ,384,817
Merit Increase 10,576,460 10,576,460
Compression (Public Safety) 4,300,000 4,300,000
Compression (General) 970,000 630,000
Rollover 16,317,951
Market Survey 0 7,972,481
Total Personal Services $ 282,975,889 $ 304,996,337 $ 331,181,709
Fringe Benefits:
Health Insurance $ 24,332,369' $ 28,697,898 $ 29,481,510
Contribution Increase 2,234,182 1,654,509
(150/0 in FY 07; 100/0 in FY 08)
Rollover 4,468,364 ("f"')
F .I.C.A. 16,632,034 17,421,657 17,548,881 I
In
F .I.G.A. - Medicare 3,912,434 4,098,160 4,125,439
Virginia, Retirement System 37,509,306 44,662,613 44,948,485
Life Insurance 0 3,171,682 3,191 ,983
Other Fringe Benefits
and Allowances 910.680 851,400 867,152
Total Fringe Benefits $ 83~2g6,823 $ 101,137,592 $ 106,286,323
Total Compensation $ 366,272,712 $ 406,133,929 $ 437,468,032
Percentage Increase 10.880/0 7.720/0
On page 5-3 of the Council Workshop book handed out on April 11, we inadvertently included
the rollover amount twice in the FY 2007-08 column (both in salaries and in rollover). This table
removes the duplicative amount in salaries. In addition, we have included other fringe benefit
amount for a full display of total compensation.
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