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7a - 2017-2018 Mid-Biennium Budget Adjustment and 2018 Property Tax
2017/2018 Budget Adjustment and 2018 Property Tax Public Hearing Regular Council Meeti November 21, 2017 Presented by: Ade Ariwoola Finance Director EXHIBIT A 2017/2018 Adopted Budget 2017 2018 Beginning Fund Beginning Fund Ending Fund Fund Balance Revenue henalture Balance Revenue Expenditure Balance General Fund $ 10,034,954 $ 48,668,287 $ 48,751,194 $ 9,952,047 $ 49,123,986 $ 50,053,760 $ 9,022,273 Special Revenue Funds: Street 500,000 4,148,199 4,092,470 555,729 4,199,776 4,255,503 500,002 Arterial Street 100,000 1,515,410 1,515,410 100,000 1,517,273 1,517,273 100,000 Utility Tax 1,842,718 8,918,924 9,261,642 1,500,000 8,918,924 8,918,924 1,500,000 SolidWastelRecycling 175,352 431,117 503,121 103,348 431,117 504,818 29,647 Special Contract/Studies 408,356 408,356 408,356 Hotel/Motel Lodging Tax 501,765 225,700 224,700 502,765 225,700 224,700 503,765 Community Center 1,516,500 2,200,350 2,216,850 1,500,000 2,254,430 2,254,430 1,500,000 Traffic Safety Fund 2,558,371 3,140,374 3,495,761 2,202,984 3,140,500 3,843,484 1,500,000 Real Estate Excise Tax 3,078,496 3,200,000 3,739,023 2,539,473 3,200,000 3,739,473 2,000,000 Utility TaxProposition 1 1,077,462 2,921,481 2,998,943 1,000,000 3,074,939 3,074,937 1,000,002 Performing Arts and Event Center 937,546 937,546 1,254,534 986,820 267,714 Transportation Benefit District - 930,000 930,000 - 930,000 930,000 - Community Development Block Gant 40,441 1,237,103 1,277,541 3 1,237,103 1,237,103 3 Paths and Trails 553,356 169,000 722,356 169,000 891,356 Strategic Reserve 3,000,000 - 3,000,000 - 3,000,000 Parks Reserve 750,000 750,000 750,000 Debt Service Fund 2,499,999 10,345,926 10,082,279 2,763,646 1,747,863 1,747,863 2,763,646 Capital Project Funds: Downtown Redevelopment 1,912,244 1,000,000 500,000 2,412,244 1,000,000 500,000 2,912,244 Municipal Facilities 53,232 - 53,232 53,232 Parks 2,143,499 300,000 2,367,163 76,336 300,000 300,000 76,336 Surface Water Management 4,234,329 540,000 3,209,988 1,564,341 3,140,000 3,322,000 1,382,341 Transportation 4,420,026 16,915,000 20,036,000 1,299,026 11,443,000 12,663,000 79,026 Capital Project Reserve 481,703 129,382 352,321 352,321 Performing Arts and Event Center - 11,278,902 11,278,902 - - Faterprise Fund: Surface Water Management 1,082,868 4,070,820 3,999,912 1,153,776 4,058,198 3,956,108 1,255,866 Dumas Bay Centre 648,669 747,251 925,014 470,906 747,251 753,994 464,163 Internal Service Funds: RiskManagement 846,398 1,567,843 1,567,843 846,398 1,080,343 1,080,343 846,398 Information Technology 3,098,470 2,212,755 2,159,270 3,151,955 2,217,980 2,234,756 3,135,179 Mail & Duplication 209,252 128,707 151,507 186,452 119,447 119,235 186,664 Fleet & Equipment 5,707,512 1,800,811 1,413,330 6,094,993 1,811,924 1,061,052 6,845,865 Buildings &Fumishings 2,021,140 483,912 483,912 2,021,140 490,355 490,355 2,021,140 Health Insurance 2,249,828 4,203,500 4,180,000 2,273,328 4,203,500 4,180,000 2,2%,828 Unemployment Insurance 1,309,124 268,000 1,050,000 527,124 268,000 50,000 745,124 Grand Total All Funds $ 59,056,064 $ 134,506,918 $ 143,478,703 $ 50,084,279 $ 112,305,143 $ 113,999,931 $ 48,389,491 EXHIBIT B 2017/2018 Mid -Biennial Amended Budget 2017 2018 Beginning Fund Beginning Ending Fund Fund Balance Revenue Expenditure FundBalance Revenue Expenditure Balance General Fund $ 11,090,269 $ 49,865,874 $ 50,211,158 $ 10,744,985 $ 49,123,986 $ 50,053,760 $ 9,815,211 Special Revenue Funds: Street 526,510 4,306,461 4,243,147 589,824 4,199,776 4,255,503 534,097 Arterial Street 245,970 1,844,092 1,954,092 135,970 1,517,273 1,517,273 135,970 Utility Tax 2,457,687 9,429,292 10,386,979 1,500,000 8,918,924 8,918,924 1,500,000 Solid Waste/Recycling 176,309 431,117 481,121 126,305 431,117 504,818 52,604 Special Contract/Studies 525,428 - - 525,428 - - 525,428 Hotel/Motel Lodging Tax 737,375 225,700 224,700 738,375 225,700 224,700 739,375 2% for Arts - - - - Community Center 1,516,500 2,278,455 2,294,955 1,500,000 2,254,430 2,254,430 1,500,000 Traffic Safety Fund 2,551,279 3,340,374 3,623,646 2,268,007 3,140,500 3,843,484 1,565,023 Real Estate Excise Tax 4,957,033 4,301,594 6,048,361 3,210,266 3,200,000 3,739,473 2,670,793 Utility TaxProposition 1 1,290,233 3,021,481 2,998,943 1,312,771 3,074,939 3,074,937 1,312,773 Performing Arts and Event Center 177,413 1,018,749 1,196,162 (0) 1,254,534 986,820 267,714 Transportation Benefit District - - - - 930,000 930,000 Community Development Block Grant 65,828 1,237,103 1,277,541 25,390 1,237,103 1,237,103 25,390 Paths and Trails 568,722 169,000 - 737,722 169,000 906,722 Strategic Reserve 3,021,716 - - 3,021,716 - 3,021,716 Parks Reserve 752,652 500,000 128,806 1,123,846 - 1,123,846 Debt Service Fund 2,508,514 10,786,064 10,084,279 3,210,299 1,747,863 1,747,863 3,210,299 Capital Project Funds: Downtown Redevelopment 2,119,099 1,000,000 2,180,000 939,099 1,000,000 500,000 1,439,099 Municipal Facilities 29,593 - - 29,593 - - 29,593 Parks 2,135,589 370,000 2,430,206 75,383 300,000 300,000 75,383 Surface Water Management 4,107,914 400,000 1,565,000 2,942,914 3,140,000 3,322,000 2,760,914 Transportation 9,989,612 22,588,766 30,560,504 2,017,874 11,443,000 12,663,000 797,874 Capital Project Reserve 482,717 - 129,382 353,335 - - 353,335 Perfomring Arts and Event Center 1,372,864 11,523,963 12,896,827 (0) - - (0) Enterprise Fund: - Surface Water Management 1,659,676 4,120,820 4,081,412 1,699,084 4,058,198 3,956,108 1,801,174 Dumas Bay Centre 648,669 1,578,103 1,143,712 1,083,060 747,251 753,994 1,076,317 Internal Service Funds: Risk Management 1,093,832 1,627,843 1,567,843 1,153,832 1,080,343 1,080,343 1,153,832 Information Technology 3,490,097 2,276,500 2,347,629 3,418,968 2,217,980 2,234,756 3,402,192 Mail & Duplication 210,996 132,007 154,807 188,196 119,447 119,235 188,408 Fleet & Equipment 6,334,172 2,287,310 1,771,136 6,850,346 1,811,924 1,061,052 7,601,218 Buildings &Furnishings 2,021,140 483,912 503,912 2,001,140 490,355 490,355 2,001,140 Health Insurance 2,020,466 4,507,800 4,380,000 2,148,266 4,203,500 4,180,000 2,171,766 Unemployment Insurance 1,377,809 268,000 1,050,000 595,809 268,000 50,000 813,809 Grand Total All Funds $ 72,263,686 $145,920,380 $ 161,916,260 $ 56,267,806 $ 112,305,143 $ 113,999,931 $ 54,573,018 Proposed 2018 Property Tax Calendar Proposed Levy is the lower of 1 %and rate of Inflation (IPD) Public Hearings — November 7, 2017 November 21, 2017 First Reading of the Ordinances November 21, 2017 Second Reading of the Ordinances & Certification of the levy December 5, 20157 ,� 2018 Property Tax Ordinance will be � certified and sent by December 7, 2017 Questions? Thank You