Agenda - Council - 11/26/2013 - Laserfiche WebLink

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October 2013 Engineering Development of a Lon -Term Street Maintenance Program — Engineering has been working to develop a long-term street maintenance program to allow the city to maintain an average PASER rating of 6.5 on all city streets, one of the identified goals in the Strategic Action Plan. This work has included the development of a pavement management program that defines a schedule for applying specific pavement maintenance treatments to city streets, as well as how this program can best be funded over time which has resulted in the recent discussion on the use of franchise fees. Once a funding mechanism is in place, Engineering staff will work closely with staff from Administration and Public Works to implement the long-term street maintenance program. Development of City Desiun Standards and Construction Specifications — Engineering has been working to develop a comprehensive set of design standards and construction specifications for all public street and utility improvements within the City of Ramsey. Engineering staff will work in close cooperation with Public Works staff to develop and publish design standards and construction specifications manuals in the spring of 2014. Developers, contractors and designers will then be directed to follow the standards and specifications set forth in these manuals while designing and constructing public improvement projects throughout the city. The implementation of these standards and specification will ensure that we will be enhancing the development of public infrastructure and increasing public safety throughout the city as it continues to grow. Finance Financial Stability. The Financial Health of the Citv is Strong. In 2009, the City's bond rating was upgraded by Standard and Poor's (S&P) to AA+. This rating denotes a high credit -quality investment grade. Only 12 other municipalities in the State of Minnesota have received this rating. Out of 112 municipalities in the State of Minnesota rated by S&P, only 22 have received a rating of AA+ or higher. Many factors go into the rating process including economic diversity, financial performance and flexibility, debt burden, and financial management practices. An outstanding credit rating keeps the cost of financing capital projects as low as possible providing a substantial savings to taxpayers. This rating was reaffirmed in July 2013 by S&P exhibiting that the City has been able to maintain consistent financial stability. An Effective Oranization. Finance is Taking a Closer Look. The Finance Department has been taking a closer look at its policies and processes to create an effective organization. We have prepared and will be presenting a five-year budget to council. This is the first time we've prepared such a long-term budget. It will help our organization be able to better plan for the future. Additionally, we are working to maintain a stable tax rate levy. The five-year budget will help us make assumptions on where our tax rate levy may trend. Our internal processes have been improved. We've heard a lot of positive feedback regarding the green folder delivery change. We reduced the delivery to one green folder per week. We are also working to provide timely I.T. support through the use of our internal help desk. Keep submitting I.T. requests through this tool... its working!