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2017-04-11 Finance Committee Agenda Packet - Open SessionCity of Saint John Finance Committee - Open Session AGENDA Tuesday, April 11, 2017 5:00 pm 8th Floor Boardroom, City Hall 1. Call to Order Pages 1.1 Approval of Minutes 1.1.1 Minutes of January 30, 2017 1 - 3 1.1.2 Minutes of February 28, 2017 4 - 6 1.2 Asset Management Roadmap 7-36 1.3 Long -Term Financial Planning Framework 37-64 1.4 2018 Budget Timeline 65-65 1.5 Account Receivable Update 66-77 1 Poeta Sy:1 City of Saint John Finance Committee Meeting Tuesday, April 11, 2017 Committee of the Whole 1. Call to Order Si vous avez besoin des services en fran�ais pour une r6union de Conseil communal, veuillez contacter le bureau du greffier communal au 658-2862. Each of the following items, either in whole or in part, is able to be discussed in private pursuant to the provisions of subsection 10.(2)(4) of the Municipalities Act and Council / Committee will make a decision(s) in that respect in Open Session: 4:30 p.m., 8th Floor Boardroom, City Hall 1.1 Approval of Minutes 10.2(4) 1.2 Financial Matter 10.2(4)(c) K rIN. m MINUTES - OPEN SESSION FINANCE COMMITTEE MEETING JANUARY 30, 2017 AT 4:30 PM Stn FLOOR BOARDROOM, CITY HALL Present: Mayor D. Darling Councillor D. Merrithew Councillor D. Reardon Councillor G. Sullivan Councillor S. Casey Absent: Councillor G. Norton Also Present: City Manager J. Trail Deputy City Manager N. Jacobsen Commissioner of Finance and Treasurer K. Fudge Comptroller C. Graham Senior Manager Financial Planning H. Nguyen Commissioner Transportation & Environment Services M. Hugenholtz Commissioner Saint John Water B. McGovern Commissioner Growth and Community Development J. Hamilton Director Corporate Performance/Information Officer S. Rackley Roach Assistant Comptroller Finance & Administrative Services C. Lavigne Continuous Improvement B. Neal Continuous Improvement T. McGrath Deputy Commissioner Finance & Administrative Services I. Fogan Fire Chief K. Clifford Administrative Assistant K. Tibbits 1. Meetiniz Called To Order Councillor Merrithew called the Finance Committee open session meeting to order. 1.1 Approval of Minutes 1.1.1 Minutes of November 17, 2016 Moved by Mayor Darling, seconded by Councillor Sullivan: RESOLVED that the minutes of November 17, 2016 be approved. MOTION CARRIED. 1.1.2 Minutes of December 8, 2016 Moved by Councillor Reardon, seconded by Councillor Sullivan: 1.2 Asset Management Update (Mr. Samir Yammine and Mr. Hans Arisz of RV Anderson entered the meeting) Mr. Fudge explained that asset management is an integrated process for managing municipal infrastructure to support fiscally responsible service delivery, with a focus on the strategic aspect of financial planning. Mr. Yammine and Mr. Arisz reviewed the submitted presentation. Mr. Yammine stressed the importance of an asset management plan to ensure sustainability into the future, adding that the foundation of asset management is an understanding of the current state of the City's infrastructure. The involvement for Council is to approve the policy and ingrain it in the operating culture of the City. Mayor Darling summarized by stating that the asset management plan will outline, based on criteria, the assets that need to be reinvested in and the capital required in the short and long term. It will be a benefit when dealing with the federal and provincial governments in terms of alignment with government plans and initiatives. It will allow council to manage the budget more efficiently and assist in identifying council priorities and in making decisions. Mr. Fudge stated that staff will seek feedback from the senior leadership team and a final policy statement will be presented to the Finance Committee for review prior to presenting it to Council for adoption. Moved by Mayor Darling, seconded by Councillor Reardon: RESOLVED that item 1.2 Asset Management Update be received for information. MOTION CARRIED. (Mr. Yammine and Mr. Arisz withdrew from the meeting) 1.3 Long -Term Financial Planning Mr. Fudge stated that once the assets have been determined and service levels identified, the asset management plan will identify the amount required for re -investment in those assets. A long term financial plan is a combination of planning, analysis and forecasting. It is a strategic process that will identify future financial challenges and opportunities, correlated with service levels to the public. The annual budgets should link strategically with the long term financial plan to provide consistent service levels to the community as well as allow the city to anticipate financial shocks and prevent unexpected tax increases and/or cuts to services. It is the financial link to all of the City's strategic plans to ensure those plans can be sustained over the long term. Ms. Nguyen reviewed the submitted presentation entitled, "Long -Term Financial Planning". She commented on the benefits of a long-term financial plan and the steps involved in preparing such a plan. Mr. Trail noted that staff shares the sense of urgency around advancing long term financial planning but suggested that the first step is the establishment of an asset management plan, noting that there are long term financial elements included in the asset management plan. Moved by Mayor Darling, seconded by Councillor Reardon: RESOLVED that item 1.3 Long -Term Financial Planning be received for information. MOTION CARRIED. 1.4 Continuous Improvement Update Ms. Rackley -Roach provided a summary of the 2016 results with respect to the Cycle I projects noting 1-k ,+ ,; -,.., ^,+;--,+^,4 -,+ Cn-n nnn Ck^ ^--^-+^,4 ^- +k^ r;+., k,11 -,^;^,+ -4 +k,+ ;+.., Ms. Rackley -Roach commented on the Cycle II projects currently being undertaken by the Continuous Improvement team. The cost savings on these projects are different from the Phase 1 projects with overall savings projected at approximately $65,000, with an emphasis on productivity and service improvements. Ms. Rackley Roach stated that a target of $2M has been set for 2017 which is cumulative by 2018. The 2016 projects are estimated at approximately $500,000, the City Hall project at $500,000, and the 2017 target is $1M. Mr. Trail noted that a $1M target is very ambitious and that the team has tried to identify projects that are reasonably achievable, with a stretched target. The City is challenged to find approximately $3M to $4M per year through a combination of revenue, growth and cost savings. It is important to integrate cost savings into the culture of the overall organization. Mr. Neal and Mr. McGrath, Continuous Improvement Team, commented on the Sidewalk Winter Maintenance Coordination project and the process undertaken by the team with the goal of increasing efficiency and improving the service. Moved by Councillor Reardon, seconded by Mayor Darling: RESOLVED that item 1.4 Continuous Improvement Update be received for information. ►I• •► T:: 1.5 Water and Sewerage Accounts Receivables Update — December 2016 Ms. Graham commented on the submitted report, "Water and Sewerage Accounts Receivables — December 2016". The accounts receivable amount is approximately $400,000 less than it was a year ago at this time. Collection efforts continue to be successful. Payment schedules have been set up with approximately 35% of the outstanding balances and negotiated payment plans for another $300,000. The City continues to work with its customers to keep accounts up to date. Moved by Councillor Reardon, seconded by Councillor Casey: RESOLVED that item 1.5 Water and Sewerage Accounts Receivable Update — December 2016 be received for information. MOTION CARRIED. Adjournment Moved by Councillor Reardon, seconded by Mayor Darling: RESOLVED that the Finance Committee open session meeting held on Monday, January 30, 2017 be adjourned. MOTION CARRIED. The Finance Committee meeting held on January 30, 2017 was adjourned at 6:35 p.m. rIN. m MINUTES - OPEN SESSION FINANCE COMMITTEE MEETING FEBRUARY 28, 2017 AT 5:30 PM Stn FLOOR BOARDROOM, CITY HALL Present: Mayor D. Darling Councillor D. Merrithew Councillor D. Reardon Councillor G. Sullivan Councillor S. Casey Councillor G. Norton Also Present: Deputy City Manager N. Jacobsen Commissioner of Finance and Treasurer K. Fudge Deputy Commissioner Finance and Administrative Services I. Fogan Comptroller C. Graham Senior Manager, Financial Planning H. Nguyen Commissioner of Transportation & Environment Services M. Hugenholtz Commissioner Growth and Community Development J. Hamilton Fire Chief K. Clifford Deputy Commissioner Saint John Water K. Mason Assistant Comptroller Finance C. Lavigne Energy Manager S. Yammine Administrative Assistant K. Tibbits 1. Meetiniz Called To Order Councillor Merrithew called the Finance Committee open session meeting to order. 1.1 Asset Management Policy Statement Mr. Fudge commented on the value of an asset management program, noting that it is evidence based and will provide the ability to assess the condition of assets and allow for strategic investment to minimize operating expenses. Mr. Yammine reviewed the submitted policy statement. An asset management policy is an integrated approach that ensures the organization and ultimately each department is committed to asset management practices to meet defined objectives. Moved by Councillor Sullivan, seconded by Councillor Reardon: RESOLVED that the Finance Committee recommend that Common Council approve the City of Saint John Asset Management Policy Statement. MOTION CARRIED. Mr. Fudge reviewed the submitted report, commenting on the City's financial health, benchmarking indicators with Moncton and Fredericton, the 2018 outlook, risks, reserve fund policies and preliminary results for each service area. 92% of the City's revenues are a combination of property taxes and the unconditional grant. There has been a steady decline in these revenues since 2008 and the level of debt has more than doubled since 2006. These factors have a significant impact on the flexibility of the City's operating budget. Over the last few years, in order to balance the budget and address this inflexibility, departments have reduced expenditures to offset operating costs. Over the past three years Council has limited the amount of borrowing to $12M annually to address the debt service issue. A worst case scenario forecast for 2018, assuming a reduction of the unconditional grant, flat assessment base, consideration of other revenues, inflation, increased fiscal charges, increased wages and benefits, is a shortfall of $4M to $5M in the operating budget. There is positive momentum with respect to other initiatives, including mitigation measures through continuous improvement programs and revenue generation opportunities, for potential operating savings of $2M. Council has recently approved a $2M operating reserve in 2016 which is very encouraging with respect to the City's financial strategies. The idea is to build and maintain reserves to fund major or unexpected expenditures that cannot be funded within a single year. It maintains financial resiliency and buffers the municipality from swings in the operations. Mr. Fudge commented on the year end preliminary results for 2016 noting that there may be some final audit adjustments. Commissioners commented on the end results for their service areas and changes to their budget since October with respect to the overall results. (Councillors Reardon and Sullivan withdrew from the meeting) (Mr. Fogan withdrew from the meeting) Mr. Fudge commented on the Saint John Water budget, the substantial completion payment and impact to the operating budget for the Safe Clean Drinking Water project. He commented on the projections for water rate increases up to 2018-2019, adding that staff will have a better idea as to the costs to ratepayers upon completion of a rate study to be conducted in 2017. It is expected that over a three year period the utility will put away reserves of $17M, which equates to savings of approximately $8M over the borrowing period. Saint John Water continues to be fiscally responsible with a focus on continuous improvement initiatives and revenue generation opportunities. Moved by Mayor Darling, seconded by Councillor Casey: RESOLVED that item 1.2 Financial Outlook and 2016 Year End Forecast, be received for information. MOTION CARRIED. 1.3 Finance Committee — Six Month Review Mr. Fudge asked for feedback on the expanded mandate of the Finance Committee noting that it is the end of the 6 month pilot project. Ms. Hamilton commented on the feedback received from the Growth Committee, noting that the recommendation was to keep the committees contained at this point to the Growth and Finance Committees and not expand to other topic areas, adding that these committees reflect Council's priorities. The committee held comment on the six month pilot of the extended mandate of the Finance Committee structure of governance until such time that the entire committee was available. 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N ! .� O U a--+ • 4 -JO 0 N U ai 0 oc (a DL O E 0 ea E Ov U� a-+ U 4- U— C) --+UQ N O O bA U ateJ N � L U 4- U U N U O N N cn ate -J N c� • 4 •Ln ! • * • • * ! •• *, •; • • u l * ! ! ! • U� a-+ U 4- U— C) --+UQ N O O bA U ateJ N � L U 4- U U N U O N N cn ate -J N c� 0 2018 PROPOSED BUDGET SCHEDULE July 191h First draft of General and Utility Capital Budgets to Finance Committee; August 301h 1) First draft of General and Utility Operating Budgets to Finance Committee; 2) Second draft of General and Utility Capital Budgets to Finance Committee; Sept 5th First Draft General and Utility Capital Budgets to Common Council for receive and file; Sept 13th 1) Second draft of Utility Operating Budget to Finance Committee; 2) Budget presentation by departments & Feedback from the Finance Committee • Fire Services • Transportation and Environment Services • Transit & Parking Administration • Corporate Services Sept 18th 1) First Draft of Utility Operating Budget to Common Council for receive and file; 2) Common Council approves the General and Utility Capital Budgets Sept 27th Budget presentation by departments & Feedback from the Finance Committee • Police Services • Finance & Administrative Services • Growth & Community Development Services Oct 2: Common Council Approve Utility Operating Budget (1St & 2nd Reading) Oct 16th: Utility Operating budget (3rd reading) Oct 25th Second Draft of General Operating Budget to Finance Committee; Nov 14th First Draft of General Operating Budget to Common Council; December 5: Third Draft of General Operating Budget to Finance Committee (assuming assessment base data is released on December 1St) December 11: Recommend General Operating Budget to Council for Approval; ARI � I I pp-. �. I I l '7 � 2 L4k El r—I O N f°lrl mm a C7 ti ON O O O O O O O O O O O O O O O O O O O Lr) O Lr) O Lr) N r -I r -I O O Ol r -I r -I r -I r -I r -I C7 ti ON O O 00 00 L L N N 0 0 I*_ lD r -I r -I O O N N rl r -I M M U U L L C6 C6 V r, r, O O O O O O O O O O O O O O LA O LA 01 LA N LA rl r -I 00 , r -I ; M N 00 O M l0 V O O O O O O O O O O O O O O O LA O LA O LA N N rl r -I V W l� L > O A� W m m m U N 3 U Q 4A m 3 i m m N m H _m Q m CL m a 0 Z Z OO O O O O O O O O O O O O O O O O Ln Ln Ln Ln Ln Ln Ln Ln Ln N N N N N N N N N 00 P% w Ln R* M N r -I Z FINANCE COMMITTEE REPORT Report Date April 04, 2017 Meeting Date April 11, 2017 Chairman Councillor Merrithew and Members of Finance Committee SUBJECT. Water and Sewerage Accounts Receivable Update Mar 2017.docx OPEN OR CLOSED SESSION This matter is to be discussed in open session of Finance Committee. AUTHORIZATION Primary Author Commissioner/Dept. HeadCity Manager Craig Lavigne/ Cathy Graham Kevin Fudge Jeff Trail RECOMMENDATION It is recommended that this report be received and filed. EXECUTIVE SUMMARY The purpose of this report is to provide the Finance Committee with the aged accounts receivable balances for Saint John Water meter and flat rate customers as of March 31St PREVIOUS RESOLUTION At the Finance Committee meeting of January 30th 2016, the Water and Sewerage Accounts Receivable as of December 31s' 2016 was received for information. STRATEGIC ALIGNMENT This report aligns with being fiscally responsible by reporting to the Finance Committee the aging of receivables for Saint John Water accounts in a timely manner. It allows Finance to report on the management of the collection efforts, that money is being received in a timely fashion and provides an opportunity to provide the Finance Committee updated performance metrics. NQ -2 - REPORT As of March 31St, 2017, Water and Sewerage account receivable balances were as follows: Current: $8,592,831 Over 30: $5,353 Over 60: $296,602 Over 180: $1,766,308 Total: $10,661,094 • Meter rate billing totaling $2,227,632 was billed March 20st with a due date of April 21St • Flat rate billing totaling $10,446,718 was billed on February 28t", with a due date of April 5th • Of this balance, there are currently $3,212,260 in pending payments for 5,205 customer accounts that are set up on pre authorized payments plans. This represents 30% of the outstanding balance. • Of this balance, there are currently 257 accounts that have a negotiated payment plan for a total of $580,101. • Accounts with balance over 180 days represent 3.90% of the 2017 operating budget ($45,250,000). SERVICE AND FINANCIAL OUTCOMES N/A INPUT FROM OTHER SERVICE AREAS AND STAKEHOLDERS N/A ATTACHMENTS N/A NFA