Stutsman County 2019 Budget Presentation

Transcription

1 Stutsman County 2019 Budget Presentation

2 Budget Challenges State Funding of Social Services Maintaining services with decreased access to funding Continued loss of oil impact money and decreased highway aid for maintaining road capital projects and assets Continuation of Capital Improvement Plan Sustaining plan with reduced revenues Maintaining funding for Park capital projects Employee and Fringe Benefit Costs COLA increase of 2% and step increase of 2% for eligible employees Health insurance increase of 8.5% with County maintained cost share

3 Revenues Total 2018 budgeted revenues $21,543,126 Total 2019 budgeted revenues $22,331,212 Total increase for 2019 $788,086 Significant revenue increases include: $1,292,299 in transfers between funds $185,458 in property taxes Significant revenue decreases include: $285,000 in wind generation tax $140,491 in Social Service payment from State $118,431 in State Aid $64,500 in Correction revenues $32,500 in Sheriff grant revenues

4 Breakdown of Revenues Shared Revenue 30% Reimbursements 9% Fees 4% Grants 2% Taxes 1% Reimbursements Fees Grants Taxes PILT 0% Transfers 19% Property Tax 34% Property Tax Miscellaneous Transfers PILT Shared Revenue Miscellaneous 1%

5 Expenditures Total 2018 budgeted expenditures $21,393,683 Total 2019 budgeted expenditures $24,408,813 Total increase for 2019 $3,015,130 Significant expenditure increases include: $1,292,299 in transfers between funds $806,000 in road construction and engineering $381,735 in capital asset purchases $271,030 in salaries, $109,650 in health insurance and $97,340 in retirement/fica $17,500 in insurance costs Significant expenditure decreases include: $56,000 in election costs as no planned elections during 2019

6 Breakdown of Expenditures Cost Share 6% Miscellaneous 3% Utilities 2% Service Contracts 4% Maintenance and Repairs 2% Transfers 17% Payroll Capital Projects 11% Payroll 46% Operating Expenses Travel / Training / Dues Capital Projects Maintenance and Repairs Service Contracts Utilities Miscellaneous Cost Share Transfers Travel / Training / Dues 1% Operating Expenses 8%

7 Budgetary Imbalance Total Revenues $22,331,212 Total Expenditures $24,408,813 Net Deficit $2,077,601 General Fund has a $1,386,287 planned deficit due to State mandated mill levy buy-down of Social Service transfer that occurred January 2018 E-911 Fund has a $226,850 planned deficit for capital purchases Park Fund has a $25,000 planned deficit for capital improvements County Highway Aid Fund has a $300,000 planned deficit for road construction projects Correctional Center Capital Fund has a $43,000 planned deficit for capital projects Road Capital Fund has a $114,000 planned deficit for capital purchases Weed Board Capital Fund has a $64,200 planned deficit for capital purchases

8 2019 Ending Balance Projections

9 2019 Ending Balance Projections

10 2018 Mill Levy

11 Mill Levy Comparison Mill Levy Comparison Mill Levy Mill Levy Effective Tax Rate $150,000 Residential Property 0.779% 0.764% 0.764% 0.729% 0.663% 0.649% 0.502% 0.497%

12 County Property Tax Levy Distribution $5,000,000 $4,500,000 $4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $

13 How Property Tax is Calculated True and Full Value is calculated by a property appraiser during an appraisal of the property True and Full Value x 50% = Assessed Value Assessed Value x 9% = Taxable Value for residential property Assessed Value x 10% = Taxable Value for commercial property and agricultural land Taxable Value x Mill Rate = Tax Due for a property

14 Examples $100,000 residence in Stutsman County $100,000 True and Full Value x 50% = $50,000 Assessed Value $50,000 Assessed Value x 9% = $4,500 Taxable Value $4,500 Taxable Value x (2018 Mill Levy) = $ Tax Due $100,000 commercial property or agricultural land parcel $100,000 True and Full Value x 50% = $50,000 Assessed Value $50,000 Assessed Value x 10% = $5,000 Taxable Value $5,000 Taxable Value x (2018 Mill Levy) = $ Tax Due

15 Tax Implication of 2017 Mill Rate vs 2018 Mill Rate (Includes County and State Tax Levies)