Mayor Mike T. Huether March 31, 2016
Sioux Falls Is Very Strong Financially
General Revenues $160 $140 $120 $107.9 $112.1 $110.9 $115.4 $118.9 $125.3 $139.9* $138.0 $143.9 $100 $97.2 Millions $80 $60 $40 $20 $0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Property Tax Sales Tax Other *2013 includes $6.3 M for ice storm reimbursement
General Fund Our Piggy Bank Is Full Beginning Available Fund Balance Revenues Expenditures Net Revenues and Expenses Net Change in Restricted Change in Fund Balance Ending Available Fund Balance % Available to Budget 144.1 M 146.8 M $46.1 M (2.7) M 0.2 M (2.5) M $43.6 M
Available General Fund Balance We Have $43.6 Million in Reserves! 40% 35% 30% 31.1% 34.2% 38.1% 34.5% 33.7% 35.6% 35.6% 32.3% 32.7% 28.9% 25% 25% City Goal 20% 15% 10% 5% $31.6M $37.0M $42.1M $41.1M $41.7M $43.4M $45.2M $45.8M $46.1M $43.6M 0% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Per Capita Debt Sioux Falls Is Very Cautious With Debt Fargo, ND $4,638 Lincoln, NE $4,530 Sioux City, IA $3,178 Omaha, NE $2,978 Des Moines, IA $2,880 Topeka, KS $2,774 Rochester, MN $2,733 Sioux Falls, SD $2,258 Rapid City, SD $2,037 Source: PFM (November 2015)
Don t Just Take Our Word for It Aaa Prime, maximum safety Aa1 Very high grade/quality Aa2 Very high grade/quality Aa3 Sioux Falls A1 Upper medium quality A2 A3 Baa1 Lower medium grade Baa2 Baa3 Ba1 Speculative Moody s Bond Rating of Aa2 Ba2 Ba3 B1 Highly Speculative B2 B3 Caa1 Caa2 Substantial Risk In poor standing Caa3 Ca C Extremely speculative May be in or extremely close to default Default
The Sioux Falls Economy Is Booming
Strong Job Creation 150,000 145,000 140,000 Jobs 135,000 130,000 125,000 3,000+ Jobs Added in 2015 Alone 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 * MSA Nonfarm Wage and Salary Workers
Record Building Permits $700 $676 $600 $588 $620 $500 $463 $442 $506 $454 $491 Millions $400 $300 $298 $283 $287 $200 $100 $0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Dreaming, Investing, Building 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
Downtown Has Never Been More Vibrant Pre-2010 Current Live Residential Vacancy Rates 14% (2010) (2015) Work Office Vacancy Rates 17% (2009) (2015) Play Retail Sales $151 M (2009) (2013)
Our Quality of Life Is Second to None
Over 90% of citizens will remain in Sioux Falls and would recommend Sioux Falls as a place to live. It is only getting better.
Denny Sanford PREMIER Center 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
Midco Aquatic Center Opening this fall Paid for with cash The best swim facility within 500 miles
Our Citizens Demand Good Roads 388 miles of roadways repaired since 2010 Spearfish, S.D. Sioux Falls, S.D.
Public Safety Is a Priority
Additional Police Staff 300 290 280 41 Positions Added Over the Past 10 Years 282 289 Positions 270 260 250 248 249 254 262 262 262 264 269 240 230 220 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
We Hold Bad Neighbors Accountable Here 100% 100% 2015 Clearance Rates 90% 80% 86% City National Clearance Rate 70% 60% 50% 40% 30% 20% 10% 65% 62% 39% 38% 30% 56% 21% 14% 40% 39% 23% 13% 0% Homicide Rape Robbery Aggravated Assault Burglary Theft Stolen Vehicle
Downtown Is in Good Hands 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.
Fire Rescue: Among America s Finest I.S.O. Class 1 and accredited No fire fatalities in Sioux Falls since 2013 Paramedics Plus Ambulance Service Fire Station 11
We Still Have Challenges, Sioux Falls.
We Need Good Workers 5% Sioux Falls MSA Unemployment 4% 3% 2% 3.9% 3.5% 3.4% 2.7% 3.0% 2.9% 2.6% 1% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2013 2014 2015 2016
The City Needs Workers, Too. 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
City Administration Building 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
Prioritization of Your Taxpayer Dollars Is Critical 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.
The next two years may seem boring compared to the past six.
Repair, Rebuild, Replace Our City s Infrastructure 2016 Capital Improvement Plan: $35.3 M in Highways and Streets $7.4 M in Parks $72.5 M in Utilities
Leave Sioux Falls on Sound Financial Footing
Solid Reserves Into the Future 40% Available General Fund Balance 35% 30% 25% 29% 26% 25% 25% 25% 25% 25% 27% 27% 29% 31% 25% City Goal 20% 15% 10% Fire Station 11 Fire Station 12 Fire Station 13 5% $43M $40M $41M $42M $43M $45M $48M $52M $57M $64M $72M 0% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Maintaining Critical Infrastructure $200 $180 Water Water Reclamation $172 $160 $152 $140 Millions $120 $100 $80 $90 $99 $110 $60 $40 $20 $0 2012-2016 Plan 2013-2017 Plan 2014-2018 Plan 2015-2019 Plan 2016-2020 Plan
Prudent Debt Levels $450 $400 $350 $399 $385 $362 $337 $381 $364 $356 $335 $327 Millions $300 $250 $200 $277 $279 $150 $100 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Prepare Downtown Railyard Property for Redevelopment Redevelopment process begins this summer/fall Proposals selected in 2017 Groundbreaking in spring 2018
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 Tuesdays Wednesdays Thursdays Saturdays Sundays 7:30 p.m. 6 a.m. 1:30 p.m. 7:30 p.m. 1:30 p.m. 11 a.m.