HomeMy WebLinkAboutSubmittal-Marie Gouin-PowerPoint PresentationSubmitted into the public
record for item(s) BH.1 ,
on 09/09/2023 . City Clerk
BUDGET
PUBLIC
HEARING 2023A24YEAR
14476-Submittal-Marie Gouin-PowerPoint Presentation
Submitted into the public
record for item(s) BH.1
on 09/09/2023 . City Clerk
Current Agenda Item - Operating Millage and Rolled -back Rate
• The Proposed operating millage rate is 7.5539 mills
• The rolled -back rate is 6.6055 mills
• The operating millage of 7.5539 is 14.36 percent higher than the state -defined rolled -back rate of 6.6055
mills
• "Rolled -back rate" - The millage rate which will provide the same property tax revenues as was levied during
the previous fiscal year, exclusive of levies on new construction, additions to structures, deletions, and
property added due to geographic boundary changes
2
Submitted into the public
record for item(s) BH.1 ,
on 09/09/2023 . City Clerk
Proposed reduction of $5 million in property taxes
3
Submitted into the public
record for item(s) BH.1 ,
on 09/09/2023 . City Clerk
Operating Millage and Rolled -back Rate
• The operating millage rate is 7.4843 mills
• The rolled -back rate is 6.6055 mills
• The operating millage of 7.4843 is 13.30 percent higher than the state -defined rolled -back rate of 6.6055
mills
• "Rolled -back rate" - The millage rate which will provide the same property tax revenues as was levied during
the previous fiscal year, exclusive of levies on new construction, additions to structures, deletions, and
property added due to geographic boundary changes
4
Submitted into the public
record for item(s) BH.1 ,
on 09/09/2023 . City Clerk
FY 2023-24 Highlights
• This proposed budget of $1.068 billion will generate 102 million dollar more than the prior budget of $965.281 million
Where the additional $102 millionl is allocated in this budget proposed budget:
• $24M unfunded surtax revenues from the Citizen's Independent Transportation Transit (CITT) to fund trolley operations and
related expenditures and debt service payment for Service Street and Sidewalk Bonds.
• $27.78M for capital/labor negotiations and administration building debt
• $22.3 for required salary, positions and overtime adjustments
• $24M for internal service costs (insurance, pension costs and information technology)
• $4.1M in other contractual services costs
5
Submitted into the public
record for item(s) BH.1
on 09/09/2023 . City Clerk
Office of Management and Budget
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Check us out at:
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Submitted into the public
record for item(s) BH.1
on 09/09/2023 . City Clerk