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Seattle Parks presentation for possible voter-approved funding

Seattle Parks presentation for possible voter-approved funding

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Published by WestSeattleBlog
To be presented to the Seattle Parks Legacy Plan Advisory Committee on October 3, 2013.
To be presented to the Seattle Parks Legacy Plan Advisory Committee on October 3, 2013.

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Published by: WestSeattleBlog on Oct 03, 2013
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11/22/2013

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Vote-Approved Funding Options for theDepartment of Parks and Recreation
October 3, 2013
 
Charges forServices$26.019%GeneralSubfundSupport$89.066%PrivateContributions$0.50%Space Rentals& Misc.Revenues$7.15%CRS & ParksLevy$10.98%Use of FundBalance$2.02%
2014 Parks OperatingResources -$135 million
($ in millions)
Budget Basics – The General Fund, REET and DPR
October 3, 2013Funding Options -Parks
Funding for Operations
City’s General Fund is roughly $1.0 Billion.
DPR’s operating budget for 2014 is $135 million, of which roughly $89 million is GF.
Many DPR revenues do not grow significantly overtime and may struggle to keep up with cost of service.
REET$18.049%Golf Debt$5.615%CDBG$0.82%Private Funding/ Donations /Grants$2.98%SeattleVoter-Approved Levy$7.921%KC Levy$1.75%Other$0.20%
2014 Parks CIP Resources -$37million
($ in millions)
Funding for Capital
DPR’s capital budget for 2014 is $37 million
Major maintenance funding is primarily providedfrom Real Estate Excise Tax (REET) revenues.
DPR competes with other Departments for thatfunding. DPR estimated backlog of capitalprojects is $270Mover the next 6 years.
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General Fund Tax RevenueGrowth Remains Subdued
October 3, 2013
3.3%3.4%2.3%3.9%4.1%1.3%
0.0%1.0%2.0%3.0%4.0%5.0%6.0%7.0%8.0%1995-20002005-20072011-2016F
   A  v  e  r  a  g  e   A  n  n  u  a   l   G  r  o  w   t   h   R  a   t  e
Average Annual Post-Recession General Fund TaxRevenue Growth Rate
Real GrowthInflation
7.2%7.5%3.6%
Funding Options -Parks
General Fund tax growth is much lower than previous post-recession periods.
Limits City’s ability to expand GeneralFund-backed budgets.
Forecasts through the next biennium indicate the General Fund is about inbalance, with no additional resources available.
3

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