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Home My WebLink About11 14 2016 2017 Budget PresentationNovember 14, 2016 1 Nov. 14 –Budget Work Session Nov. 28 –Public Budget meeting Dec. 12 –Adopt Final Tax Levy, Budget, and Fee Schedule Tax Levy and Budget Schedule 2 Overview –2017 Budgets 3 General Fund $ 13,076,598 Debt Service Funds 5,019,318 Rev. Equipment Fund 872,704 Other (EDA, Facilities, Parks, Cable)617,621 Water Fund 6,025,897 Sewer Fund 4,461,398 Water Quality Fund 1,388,206 Total $ 31,461,742 Tax Supported Funds General Debt Service Revolving Equipment Revolving Park Equipment Facilities Economic Development Authority 2017 Budgets 4 5 2017 Property Tax Levy Comparison Change 16 -17 Property Taxes 2016 2017 Amount Percent Levy -Tax Capacity General Fund -Operating $ 7,172,792 $ 7,271,555 $ 98,763 1.38% Debt Service Funds 2,340,850 2,628,937 288,087 12.31% Revolving Equipment Fund 325,000 375,000 50,000 15.38% Revolving Park Equipment Fund -213,406 213,406 n/a Facilities Management Fund ---n/a $ 9,838,642 $ 10,488,898 $ 650,256 6.61% Levy -Market Value -General Fund 1,084,719 1,018,019 (66,700)-6.15% Levy -Economic Dev Authority 155,000 140,000 (15,000)-9.68% Total Levy $ 11,078,361 $ 11,646,917 $ 568,556 5.13% Combined General Fund & Revolving Park Equipment Fund $ 7,172,792 $ 7,484,961 $ 312,169 4.35% General Fund 6 2016 Amended Budget 2017 Proposed Budget $ Change % Change Revenues 12,775,738 13,061,840 286,102 2.23 Expenditures 13,008,738 13,076,598 67,860 0.52 Difference 233,333*14,758* *Use of Reserves Revenues -$13.05M Property Taxes -$8.3M (64%) Charges for Services -$1.7M (13%) Intergovernmental -$1.5M (12%) Expenditures -$13.1M Police -$3.7M (28%) Street -$1.4M (10.7%) Parks -$ 1.3M (10%) General Fund 7 G. F. Revenues 8 Property Tax Levy -Tax Capacity, $7,271,555 , 56% Property Tax Levy -Market Value, $1,018,020 , 8% Licenses & Permits, $584,220 , 5% Intergovernmental, $1,542,735 , 12% Charges for Services, $1,741,511 , 13% Other Revenues, $173,800 , 1% Bond Proceeds, $300,000 , 2% Transfers From Other Funds, $430,000 , 3% Cost Components Personnel -$8.33M (64%) Current Expenditures -$3.64M (28%) Capital Outlay -$83.4k (<1%) Transfer Out –1.02M (8%) Increase -$67,860 General Fund 9 G. F. Expenditures 10 Employee Services, $8,333,029 , 64% Current Expenditures, $3,642,159 , 28% Capital Outlay, $83,391 , 0% Transfers To Other Funds, $1,018,019 , 8% Total Revenues -$4,470,206 Property Tax Levy (TC and MV) -$3,646,956 Special Assessments Transfers from other Funds Total Expenditures -$5,019,318 Planned use of Reserves -$279,112 Debt Service 11 Total Revenues -$ 726,594 Property Tax Levy -$375,000 Transfers from Enterprise Funds Total Expenditures -$872,704 Planned use of Reserves -$146,110 Revolving Equipment Fund 12 2017 Budget -$160,825 Preliminary Tax Levy -$140,000 Tech Village Rent -$8,500 Use of Fund Balance -$9,825 Economic Development Authority 13 Enterprise Funds Water Sewer Water Quality 2017 Budgets 14 Total Revenues -$ 5,526,196 Charges for Services -$4,116,196 Debt (AMRS Replacement) -$850,000 Includes Proposed Rate Increase of $0.13 Total Expenditures -$6,025,897 Reflects CIP identified in the 2017-2021 CIP Planned use of Reserves -$769,701 Water Fund 15 Total Revenues -$ 4,025,540 Charges for Services -$3,152,730 Debt (AMRS Replacement) -$850,000 Includes proposed City rate Increase of $0.25 and MCES increase of $0.35 Total Expenditures -$4,461,398 Reflects CIP identified in the 2017-2021 CIP Planned use of Reserves -$435,858 Sewer Fund 16 Total Revenues -$ 919,791 Charges for Services -$876,921 Includes Proposed Rate Increase of $0.41 Total Expenditures -$1,388,208 Reflects CIP identified in the 2017-2021 CIP Planned use of Reserves -$468,415 Water Quality Fund 17 EMV -$3.65B (+3.2%) Residential -$2.73B (+2.74%) New Construction -$44.7M (-13.2%) TMV -$2.94B (+3.34%) Median Value Home -$266,900 (+4.0%) Average Value Home -$307,300 (+1.7%) Projected City Tax Inc. -$37.82 (3.6%) Pay 2017 Preliminary Property Values 18 General Fund Changes of $35,242 Spend in operations Reduce use of reserves Reduce tax levy Implement New Revenue Sources Water, Sewer, and Water Quality Rate Increases MCES Rate Tax levy Increase/Decrease Discussion Items 19 20 21 2017 Property Tax Levy ($50k) Change 16 -17 Property Taxes 2016 2017 Amount Percent Levy -Tax Capacity General Fund -Operating $ 7,172,792 $ 7,236,313 $ 63,521 0.89% Debt Service Funds 2,340,850 2,628,937 288,087 12.31% Revolving Equipment Fund 325,000 375,000 50,000 15.38% Revolving Park Equipment Fund -213,406 213,406 n/a Facilities Management Fund ---n/a $ 9,838,642 $ 10,453,656 $ 615,014 6.25% Levy -Market Value -General Fund 1,084,719 1,018,019 (66,700)-6.15% Levy -Economic Dev Authority 155,000 140,000 (15,000)-9.68% Total Levy $ 11,078,361 $ 11,611,675 $ 533,314 4.81% Combined General Fund & Revolving Park Equipment Fund $ 7,172,792 $ 7,449,719 $ 276,927 3.86% 22 2017 Property Tax Levy Comparison Change 16 -17 Property Taxes 2016 2017 Amount Percent Levy -Tax Capacity General Fund -Operating $ 7,172,792 $ 7,190,813 $ 18,021 0.25% Debt Service Funds 2,340,850 2,628,937 288,087 12.31% Revolving Equipment Fund 325,000 375,000 50,000 15.38% Revolving Park Equipment Fund -213,406 213,406 n/a Facilities Management Fund ---n/a $ 9,838,642 $ 10,408,156 $ 569,514 5.79% Levy -Market Value -General Fund 1,084,719 1,018,019 (66,700)-6.15% Levy -Economic Dev Authority 155,000 140,000 (15,000)-9.68% Total Levy $ 11,078,361 $ 11,566,175 $ 487,814 4.40% Combined General Fund & Revolving Park Equipment Fund $ 7,172,792 $ 7,404,219 $ 231,427 3.23% Revenue Antenna Revenue –Increased Tower St. Lease by $14,000 Expenditures Street –Converted $10,000 seasonal wages to P-T in Central Garage Central Garage –Converted $15,000 seasonal wages to P-T Reclassified P-T Rec position from Grade 9 to Grade 5 -$12,000 Changes from Sept. 23 Property Tax Levy History 24 2011 2012 2013 2014 2015 2016 Prelim Total Tax Levy $ 10,114,124 $ 9,414,124 $ 9,414,124 $ 9,448,918 $ 10,394,086 $ 11,078,361 Change from prior year ($)34,938 (700,000)-34,794 945,168 684,275 Change from prior year (%)0.35%-6.92%0.00%0.37%10.00%6.58% CPI -U (MSP)3.6%2.3%1.9%1.4%1% est.1% est Service Challenges Proactive Policing Winter Maintenance Transportation Projects Aging Fleet impact to operations Parks, trails and natural area maintenance Technology Replacement EAB 25