HomeMy WebLinkAboutSubmittal-Fiscal Year 2011 Budget PresentationFiscal Year 2011
Budget Presentation
tta -
Submitted into the public
record in connection with
item BH.1 on 09-14-10
Priscilla A. Thompson
City Clerk
Budget Overview
• Achieved a structurally balanced budget
Maintained millage rate at current year's level
• Sustained overall service levels
• Reinstituted our investment in capital needs
September 14, 2010
Submitted into the public
record in connection with
item BH.1 on 09-14-10
Priscilla A. Thompson
City Clerk
2
Facts about Ad Valorem Tax
• Total gross taxable value decreased by
$5,682,733, 102 to $31 ,466,457,890 or 15.29%
• New Construction of $631,289,820
• Existing Property depreciation $6,314,022,922
September 14, 2010
Submitted into the public
record in connection with
item BH.1 on 09-14-10
Priscilla A. Thompson
City Clerk
Facts about Ad Valorem Tax
IIIIP 1/IT1
11 11
• Overall Property Tax Revenue is projected at
$223.5 million
• Millage rate of 7.6740
• Current year rollback rate is 8.7154 mills
• The proposed millage rate is 11.95% lower than the
rollback rate
• Translates to a loss of potential revenue of
$29,073,083
September 14, 2010
Submitted into the public
record in connection with
item BH.1 on 09-14-10
Priscilla A. Thompson
City Clerk
Taxable Value vs. Millage Rate
Taxable Value in Billions
$45
$40
$35
$30
$25
$20
$15
$10
$5
$0
12
10
6
4
2
0
--Gross Taxable
Value
--E)--Operating
Millage Rate
September 14, 2010
Submitted into the public
record in connection with
item BH.1 on 09-14-10
Priscilla A. Thompson
City Clerk
Revenue
A
B
c
0
E
F
General Fund
Revenues (Inn° s
FY'10
Projected
FY'll
Original Forecast
Fiscal
Strategies
FY'll
Proposed Budget
Difference
(D-A)
% Change
Property Taxes
245,357,052
223,537,412
-
223,537,412
(21,819,641)
-9%
Franchise Fees and Other Taxes
35,998,893
36,269,000
-
36,269,000
270,107
1%
Interest
2,858,664
1,500,000
-
1,500,000
(1,358,664)
-48%
Transfer -In
49,942,813
46,676,860
10,400,000
57,076,860
7,134,047
14%
Fines and Forfeitures
3,809,826
4,000,000
10,133,112
14,133,112
10,323,286
271%
Intergovernmental Revenue
41,564,520
43,419,282
-
43,419,282
1,854,762
4%
Licenses and Permits
26,496,417
26,595,000
3,849,313
30,444,313
3,947,897
15%
Other Revenues
14,121,666
11,050,000
-
11,050,000
(3,071,666)
-22%
Fund Balance Allocation
-
-
-
-
-
0%
Charges for Services
77,493,726
76,750,000
5,832,763
82,582,763
5,089,036
7%
Total Revenues (Inflows)
497,643,577
469,797,554
30,215,188
500,012,742
2,369,165
0%
September 14, 2010
Submitted into the public
record in connection with
item BH.1 on 09-14-10
Priscilla A. Thompson
City Clerk
Fiscal Strategies
Revenues Enhancements
Revenue enhancements total $30.2 million
• CRA Reimbursements -$10.4 million
• Fines and Forfeits -$10.1 million
• Licenses and Permits -$3.8 million
• Charges for Services -$5.8 million
September 14, 2010
Submitted into the public
record in connection with
item BH.1 on 09-14-10
Priscilla A. Thompson
City Clerk
7
Expenditures
General Fund
Expenditures (Outflows'
Personnel Costs
Operating Expenditures
Capital Expenditures
Non -Operating Expenditures
Total -General Fund Objects
Total (Transfers -OUT)
Total Expenditures (Outflows)
A
B C
FY'10 FY'll
Projected Original Forecast
Fiscal
Strategies
D E
F
FY'll Difference
Proposed Budget (D-A) Change
433,655,361 467,957,408
71,059,393 73,456,897
(20,028) 144,427
7,052,437 23,747,949
511,747,163 565,306,681
(82,937,857)
850,000
(82,087,857)
385,019,551 (48,635,810) -11%
74,306,897 3,247,504 5%
144,427 164,455 -821%
23,747,949 16,695,512 237%
483,218,824 (28,528,339) -6%
7,917,441 9,473,441
7,320,477
16,793,918 8,876,477 112%
519,664,604 574,780,122
(74,767,380)
500,012,742 (19,651,862) -4%
September 14, 2010
Submitted into the public
record in connection with
item BH.1 on 09-14-10
Priscilla A. Thompson
City Clerk
8
Fiscal Strategies
Cost Reductions
Total Cost Reductions $82,937,857
• Salary Reductions $26.7 million
• Pension Reductions $43.3 million
• Health Care Reductions $6.9 million
• Attrition $5 million
• Rule of 64 $1 million
September 14, 2010
Submitted into the public
record in connection with
item BH.1 on 09-14-10
Priscilla A. Thompson
City Clerk
9
Summation
➢ Budget proposal addresses our fiscal constraints and
priorities
➢ Re-establishes commitment to maintain current
service levels
➢ Re-establishes commitment to continue to improve
business processes reducing redundancies and
increasing efficiencies
September 14, 2010
Submitted into the public
record in connection with
item BH.1 on 09-14-10
Priscilla A. Thompson
City Clerk
10
Question & Answers
Discussion
September 14, 2010
Submitted into the public
record in connection with
item BH.1 on 09-14-10
Priscilla A. Thompson
City Clerk
11