Mayor Mike T. Huether March 31, 2016/media/Documents/mayor/... · General Revenues *2013 includes $6.3 M for ice storm reimbursement. $97.2 . $107.9 . $112.1 . $110.9 . $115.4 . $118.9

Mayor Mike T. HuetherMarch 31, 2016

Sioux Falls Is Very Strong Financially

General Revenues

*2013 includes $6.3 M for ice storm reimbursement

$97.2 $107.9 $112.1 $110.9

$115.4 $118.9 $125.3

$139.9* $138.0 $143.9

$0

$20

$40

$60

$80

$100

$120

$140

$160

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Mill

ions

Property Tax Sales Tax Other

General FundOur “Piggy Bank” Is Full

Beginning Available Fund Balance $46.1 M

Revenues 144.1 M

Expenditures 146.8 M

Net Revenues and Expenses (2.7) M

Net Change in Restricted 0.2 M

Change in Fund Balance (2.5) M

Ending Available Fund Balance $43.6 M

% Available to Budget

Available General Fund BalanceWe Have $43.6 Million in Reserves!

31.1%

34.2%

38.1%

34.5%33.7%

35.6% 35.6%

32.3% 32.7%

28.9%

0%

5%

10%

15%

20%

25%

30%

35%

40%

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

$31.

6M

$41.

7M

$41.

1M

$42.

1M

$37.

0M

$46.

1M

$45.

8M

$45.

2M

$43.

4M

$43.

6M

25%City Goal

Fargo, ND $4,638Lincoln, NE $4,530Sioux City, IA $3,178Omaha, NE $2,978Des Moines, IA $2,880Topeka, KS $2,774Rochester, MN $2,733Sioux Falls, SD $2,258Rapid City, SD $2,037Source: PFM (November 2015)

Per Capita DebtSioux Falls Is Very Cautious With Debt

Don’t Just Take Our Word for ItSioux Falls

Moody’s Bond Rating of Aa2

Aaa Prime, maximum safety

Aa1 Very high grade/quality

Aa2 Very high grade/qualityAa3 “

A1 Upper medium quality

A2 “

A3 “

Baa1 Lower medium grade

Baa2 “

Baa3 “

Ba1 Speculative

Ba2 “

Ba3 “

B1 Highly Speculative

B2 “

B3 “

Caa1 Substantial Risk

Caa2 In poor standing

Caa3 “

Ca Extremely speculative

C May be in or extremely close to default

Default

The Sioux Falls Economy Is Booming

* MSA Nonfarm Wage and Salary Workers

125,000

130,000

135,000

140,000

145,000

150,000

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Strong Job Creation

3,000+ Jobs Added in 2015 Alone

Jobs

$463 $442

$506 $454

$298 $283 $287

$491

$588 $620

$676

$0

$100

$200

$300

$400

$500

$600

$700

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Mill

ions

Record Building Permits

Top Building Projects in 2015: • Good Samaritan Society’s National Campus: $24.6 M• Sanford Imagenetics: $22.7 M• Augustana University Froiland Science Complex: $20.4 M• Midco® Aquatic Center: $20 M• Southeast Technical Institute’s Laboratory: $19 M

Dreaming, Investing, Building

Pre-2010 Current

Live Residential Vacancy Rates

14%(2010) (2015)

Work Office Vacancy Rates

17%(2009) (2015)

Play Retail Sales $151 M(2009) (2013)

Downtown Has Never Been More Vibrant

Our Quality of Life Is Second to None

of citizens will remain in Sioux Falls and would recommend

Sioux Falls as a place to live.

“It is only getting better.”

Over 90%

• 100th busiest in the world• $1.9 million net

operating income• NCAA Division I

Basketball Regional• CMA nomination• More than $80 million in private investment since 2012

Denny Sanford PREMIER Center

• Opening this fall• Paid for with cash• The best swim

facility within 500 miles

Midco Aquatic Center®

388 miles of roadways repaired since 2010

Spearfish, S.D.

Sioux Falls, S.D.

Our Citizens Demand Good Roads

Public Safety Is a Priority

Additional Police Staff

248 249254

262 262 262 264269

282

289

220

230

240

250

260

270

280

290

300

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Posi

tions

41 Positions Added Over the Past 10 Years

We Hold Bad Neighbors Accountable Here100%

62%

38%

86%

21%

40% 39%

65%

39%

30%

56%

14%

23%

13%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Homicide Rape Robbery AggravatedAssault

Burglary Theft StolenVehicle

Cle

aran

ce R

ate

2015 Clearance Rates

City National

• A sergeant was added to oversee the downtown area and develop relationships with businesses and residents.

• All three shifts now have specific downtown officers.

• Foot and bike patrols remain a priority in the Downtown, Pettigrew Heights, Whittier, Cathedral, and All Saints areas.

Downtown Is in Good Hands

• I.S.O. Class 1 and accredited

• No fire fatalities in Sioux Falls since 2013

• Paramedics Plus Ambulance Service

• Fire Station 11

Fire Rescue: Among America’s Finest

We Still Have Challenges, Sioux Falls.

3.9%

3.0%

3.5%

2.9%3.4%

2.6%

1%

2%

3%

4%

5%

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec2013 2014 2015 2016

We Need Good WorkersSioux Falls MSA Unemployment

2.7%

• 1,228 full-time City employees • 2015 turnover rate: 8.24%• 3,579 employment applications in 2015• 769 interviews in 2015• 94 openings in 2015• Expecting approximately 90 job openings in 2016

The City Needs Workers, Too.

• Long-term solution to long-standing need

• Essential to keep up with growth

• Prudent use of taxpayer dollars

• Ideal location• Big step forward to

better customer service

City Administration Building

• Everyone wants something. • Nothing is for free.• Can’t be beholden to special interests.• Tough decisions will be made.• Must focus on the city as a whole.

Prioritization of Your Taxpayer Dollars Is Critical

The next two years may seem boring

compared to the past six.

2016 Capital Improvement Plan:• $35.3 M in Highways and Streets • $7.4 M in Parks• $72.5 M in Utilities

Repair, Rebuild, Replace Our City’s Infrastructure

Leave Sioux Falls on Sound Financial Footing

29%

26% 25% 25% 25% 25% 25% 27% 27%29%

31%

0%

5%

10%

15%

20%

25%

30%

35%

40%

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

Solid Reserves Into the FutureAvailable General Fund Balance

25%City Goal

$43M

$40M

$41M

$42M

$43M

$45M

$48M

$52M

$57M

$64M

$72M

Fire

Sta

tion

11

Fire

Sta

tion

12

Fire

Sta

tion

13

Maintaining Critical Infrastructure

$90 $99

$110

$152

$172

$0

$20

$40

$60

$80

$100

$120

$140

$160

$180

$200

2012-2016Plan

2013-2017Plan

2014-2018Plan

2015-2019Plan

2016-2020Plan

Mill

ions

Water Water Reclamation

$277 $279

$399 $385

$362 $337

$381 $364 $356 $335 $327

$100

$150

$200

$250

$300

$350

$400

$450

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Mill

ions

Prudent Debt Levels

• Redevelopment process begins this summer/fall

• Proposals selected in 2017

• Groundbreaking in spring 2018

Prepare Downtown Railyard Property for Redevelopment

Lay Groundwork for Levitt Pavilion and Phase 3 of the River Greenway

Maintain High Level of Confidence and Get Things Done for Sioux Falls

Rebroadcast Schedule for 2016 State of the City Address:(through the end of April)

Mondays 7:30 p.m.Tuesdays 6 a.m.Wednesdays 1:30 p.m.Thursdays 7:30 p.m.Saturdays 1:30 p.m.Sundays 11 a.m.