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The City Council is currently reviewing the proposed budget for Fiscal Year 2020 (FY20), which begins July 1, 2019. Citizens are encouraged to attend a public hearing on Monday, June 10, at 7:00 p.m. in the Creve Coeur Government Center Council Chambers, 300 N. New Ballas Rd. to learn more.
In developing the annual budget, city staff rely upon a variety of planning documents, including the Comprehensive Plan 2030, the five-year Capital Improvement Plan and the FY2018-2020 Strategic Plan. The budget is guided by the principles of maintaining high service levels, responsiveness to the needs of residents and businesses, preserving long-term financial stability and providing for well-planned capital investment to preserve infrastructure and facilities.
General FundThe city’s General Fund relies heavily on Intergovernmental Revenues, including sales tax (42% of revenues) and utility licenses (38% of revenues), and these revenues sources have essentially been flat for several years. FY20 General Fund revenues are projected to increase 1.05% from FY19, due to the 1% commercial utility tax rate increase and returning the residential electric utility rate to its previous level of 7%. Operating expenditures are projected to increase 2.26% from FY19 to $15,576,843.
“The recent utility tax adjustments, combined with the elimination of two full-time positions and other cost saving measures, will solidify the city’s financial outlook in FY20.” said Mark Perkins, City Administrator. “The proposed budget includes a number of measures to reduce costs based on the recommendations made by the Finance Task Force.”
During FY19, a Finance Task Force consisting of City Council and Finance Committee members evaluated city expenditures, looking for areas to cut cost while maintaining the same high level of service. Recommendations for FY20 were implemented into the proposed budget, including reducing vacation buy-back for employees and increasing required employee contribution to the pension plan.
Capital Improvement FundThe proposed budget is based on the five-year Capital Improvement Plan adopted by the City Council on April 8. The half-cent capital improvement sales tax is the major funding source, accounting for approximately $2 million in projected FY20 revenues. The city has been successful in obtaining over $983,600 in grant funding for FY20 capital projects. Proposed Capital Improvement Fund expenses include $3,097,703 for projects.
Municipal Enterprise FundThe Enterprise Fund includes operations and maintenance of the golf course and ice arena. Operating revenues are projected to increase by 0.64% to $1,067,420, due to an increase in concession and green fees during FY20. Operating expenses for the Enterprise Fund are anticipated to increase by 2.3% to $1,101,369, due to the minimum wage increase during FY19.
Public Safety Sales Tax FundA countywide half-cent public safety sales tax was approved by voters on April 4, 2017. Cities in St. Louis County receive 5/8 of the revenues based on population. These revenues will help offset the increasing cost of providing high quality police services including maintaining required manpower, competitive salaries and benefits, equipment, technology, training, and maintenance and operating expenses for the new police station.
The proposed FY20 budget is available online at www.crevecoeurmo.gov/Budget.