Bella Vista's financial position appears to be strong, and currently it is. Today, the city has approximately $17.7M in unallocated general funds (reserves). Twenty-five percent of next years revenue projection is required of the $17.7M be held as emergency funds, which leaves $12.3M in unallocated funds (reserves). As it stands today, without any changes, some of the $12.3M will be needed to help fund capital projects of $24MM on the board through 2027. It is projected that the city will generate around +$6M greater revenue TOTAL through 2027 than what it will cost the city in Payroll, Benefits and Operating expenses. With that projection, we know that options will need to be considered to pay for the total cost of the planned capital projects. Some options include:
* Scale back on some of the capital projects.
* Finance the fire station #1 remodel rather than pay cash.
* Go the voters and ask for an extension on the bond currently in place to pay for the proposed new Firestation #5. (Note: this bond, that is paying for the new Public Safety building/Fire Station #3 rebuild/Fire Training facility, is being paid down much quicker than projected).
* Or, a combination of the three options.
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The city administration is currently considering and weighing the options. Whichever direction is decided, I have confidence that the essential responsibilities of our local government will be sufficiently funded.
Bella Vista Departments and the Cost to Fund Them
Fire & EMS, '24 Budget - $8,245,602:
When it comes to emergencies, time is of the essence. That's why having a well-equipped and highly trained Fire & EMS department is crucial. Chief Sims and his team are dedicated professionals who always respond quickly and efficiently. Our city, council, and community all agree that their work is second to none. We're proud to support their efforts by ensuring they have the resources and infrastructure they need to respond immediately and effectively to life threatening situations.
Police, '24 Budget - $7,257,306:
Bella Vista may not have as many incidents of crime as other cities; however, it's importsnt to stay vigilant. We must ensure that Chief Graves and his team are well resourced to keep crime in check. The city, council and community have all supported efforts to provide the department with the necessary infrastructure, equipment and manpower to patrol and deter ill-intent.
CDS (Development and Planning), '24 Budget - $1,266,632
CDS plays an important role in ensuring that new builds and zoning requirements are properly monitored and meet the requirements of our city codes. They also play a key role in updating our codes to current standards, or recommending adjustments that meet our city's particular dynamics. In the not too distant future, they will fill a critical role providing oversite to future development that is sure to come with the recent major purchases of land in and around our city. Their workload is guaranteed to increase.
IT, '24 Budget - $953,991:
The importance of the IT department cannot be overstated as demonstrated during the recent cyber attack. The potential consequences of such an attack on our local government could have been catastrophic. It is crucial that we continue to allocate sufficient resources to this department, as previously approved by the city and council. Moving forward, we must remain vigilant and prioritize the recommendations of out IT professionals.
Streets, '24 Budget - $4,208,620:
Streets maintenance was identified by Bella Vista residents as a top priority. Our Streets Department is funded largely by turn back funds from the state and county that are restricted only to fund Street Department operations. Of the amount listed for the budget, $1,000,000 is transferred from the city's general revenue fund to be used strictly for street resurfacing. This is something the city has always done; however, the amount can vary depending on projected resources available. Bella Vista residents have become accustomed to this practice, and we need to make every effort to continue it.
Administrative (Includes Finance), HR, Legal, Library, Court:
Combined '24 Budget - $2.8M
When thinking of what resonates most when it comes to managing and ensuring the Health, Safety, and Welfare of our city, the departments listed above may not be the first to come to mind. Because I have full awareness of their contributions, I want to recognize their value. Each is run by and staffed with capable and professional people. They round out a fully functioning Bella Vista city government that would not be complete without their contributions.
