Budget 2016City Council

December 1, 2015

Presentation Outline• Budget process review• General fund overview• Property taxes• Internal charges and transfers• Property tax and debt service levies

Budget Process Review• September 22, 2015

Present 2016 preliminary tax supported budgets Present 2016 preliminary tax levy (maximum amount)

• September – November, 2015 Review general fund budget detail Review enterprise fund budget detail

• December 1, 2015– Public input meeting

Budget Calendar• December 1, 2015

Present 2016 tax supported budgets Present 2016 tax levy

• December 2015 Certify final property tax levy to Scott County and

Department of Revenue

General Fund Revenues

Taxes Intergovernmental Charges and fees Other2014 Actual $16,049,583 $1,191,127 $6,220,303 $333,1752015 Budget $16,174,500 $1,028,393 $5,650,000 $252,0002016 Preliminary $17,162,400 $1,108,500 $5,731,875 $225,248

$-

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

$12,000,000

$14,000,000

$16,000,000

$18,000,000

$20,000,000

General Fund Revenues

Taxes , 71%

Intergovernmental, 4%

Charges and fees, 24%

Other, 1%

2016 Preliminary

General Fund Expenditures

Generalgovernment

Publicsafety

Publicworks

Parks andrecreation Unallocated Capital

outlayTransfers

out2014 Actual $3,409,259 $10,139,833 $2,829,846 $3,977,600 $105,239 $44,972 $2,722,6972015 Budget $4,253,325 $9,855,744 $3,238,343 $4,258,755 $259,500 $1,500 $1,900,0002016 Preliminary $4,467,551 $10,374,766 $3,393,889 $4,370,867 $218,450 $1,500 $2,100,000

$-

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

$7,000,000

General Fund ExpendituresGeneral

government18%

Publ ic safety42%Publ ic works

14%

Parks and recreation

17%

Unallocated1%

Capital outlay

0%

Transfers out8%

Increases/Decreases include: • Building rent and equipment rent increase to reflect department costs, use and

life of equipment • Health insurance rate decrease • Dental insurance reflects minimal increase • Increase in transfer to Capital Improvement Fund • 2 new staff positions

General Fund2016 BUDGET - GENERAL FUNDSCHEDULE OF EXPENDITURES

2015 2016 2015 to 2016 2015 to 2016Proposed Increase Increase

Budget Budget (Decrease) (Decrease)

TOTAL EXPENDITURES AND TRANSFERS 23,767,167$ 24,927,023$ 1,159,856$ 5%

Internal Charges

• 3% increase in building rents• 3% increase in fleet charges• IT charges per user remain flat

Transfers• EDA – improvement program $200,000• EDA – position and operations $200,000• EDA – downtown/101 corridor $500,000• Capital improvement fund $1,200,000

Tax Capacity and Estimated Taxable Market Value

Proposed Property Tax Levy

2015 Levied2016

RequestedIncrease / Decrease

Base LevyGeneral fund 16,138,000$ 16,825,900$ 687,900$ 4.26 %

Debt Service2004B 200,000 238,027 38,027$ 19.01 2006A 343,215 315,390 (27,825) (8.11) 2007B 92,052 94,991 2,939 3.19 2010A - 88,500 88,500 100.00 2012A - 47,386 47,386 100.00 Total Property Taxes 16,773,267$ 17,610,194$ 836,927$ 4.99 %

Note: Final property tax levy is less than originally proposed

% Change

City Tax Rate for past 5 yearsYear Rate2011 .347312012 .366552013 .419662014 .414372015 .37862

Est 2016 .38039* Average tax rate from 2011 – 2015 was .38530

Property Tax Impact

Number of Homes

2015 Taxable Market Value

2016 Taxable Market Value

2015 Actual

2016 Estimated

$ Increase (decrease)

574 202,887 238,906 779.97 924.15 144.18 195 202,887 232,903 779.97 900.98 121.01

4770 202,887 220,897 779.97 854.64 74.67 3058 202,887 208,890 779.97 808.3 28.33 1991 202,887 202,887 779.97 785.13 5.16 1110 202,887 196,884 779.97 761.96 (18.01)

105 202,887 184,877 779.97 715.62 (64.35) 45 202,887 172,871 779.97 669.28 (110.69) 21 202,887 166,868 779.97 646.11 (133.86)

Property Tax Relief Programs

• State has various programs to provide property tax relief to taxpayers

• Homestead credit refund• Renter’s refund• Special property tax refund (referred to as the

targeting program)• Senior Citizen Property Tax

Questions