The Department of Administrative Services hereby submits the Budget Brochure for This report is intended to provide the public with a brief

Transcription

1

2 The Department of Administrative Services hereby submits the Budget Brochure for This report is intended to provide the public with a brief summary of the City s Budget for the fiscal year from July 1, 2010 through June 30, Since the complete FY11 document may contain data unfamiliar to many readers, we have tried to depict our budget highlights through graphics, charts, and condensed table presentation. This financial information has been gathered from a much lengthier document. The three-year financial plan includes the FY2011 budget, FY2012 and FY2013 projections, the City Council goals, long-term financial strategies, and the Capital Improvement Program. The financial plan also includes charts illustrating property tax effects, debt service schedules, employee information, and other miscellaneous graphs and statistical information. If anyone would like to purchase a copy of a complete FY Financial Plan, they should contact the Department of Administrative Services at (319) or visit the City s website at For the seventeenth consecutive year, the Government Finance Officers Association of the United States and Canada (GFOA) presented an award of Distinguished Presentation to the City of Cedar Falls for its annual budget for the fiscal year beginning July 1, The Award is a prestigious national award and is the highest form of recognition in governmental budgeting. In order to receive the award, a government unit must publish a budget document that meets program criteria as a policy document, as an operational guide, as a financial plan and as a communication device. This document is reviewed by an impartial panel to meet these high standards and makes recommendations that should be implemented for the next fiscal year. An Award for the Distinguished Budget Presentation Award is valid for a period of one year only. We believe our current report continues to conform to program requirements, and we are submitting it to the GFOA to determine its eligibility for another award.

3 Cedar Falls FY11 Property Tax Where the Property Tax is Spent Percentage of Total Levy Total Levy Property Tax Department or Fund Property Tax Per $1,000 Administrative Services 2.86% 0.38 Admin./Leg./Miscellaneous 7.42% 0.99 Debt Service 10.73% 1.18 Developmental Services 1.82% 0.24 Fire Department 10.46% 1.38 Human & Leisure Services 12.48% 1.66 Levy - Cedar Falls Band 0.19% 0.02 Levy - Liability Insurance 0.70% 0.09 Levy - MET Transit 2.05% 0.27 Levy - Library 2.05% 0.27 Library 3.35% 0.45 Mayor 0.48% 0.06 Police Department 19.06% 2.52 Public Works 3.12% 0.41 Trust & Agency 23.24% 3.06 Total Levy % $12.99 With a wide variety of services and $100 million in budgeted revenues and expenses, YOUR EARLY INPUT AND PARTICIPATION can have a significant influence on the services, which are provided, and on how resources are allocated to those services. For this process to succeed, citizen participation early in the budget process is vital. SO PLEASE GET INVOLVED EARLY! WHAT HAPPENS AND WHEN? The City Budget process begins nearly twelve months before the actual start of the budget year, which runs from July 1st through June 30th. This process provides for: A substantial degree of citizen input Formal direction from elected officials Preparation of the proposed budget by City staff Final decision and adoption by the elected City Council The FY2012 City Budget process includes the following scheduled meetings at City Hall. Citizens are welcome to attend. Monday, February 14, :00 p.m. Maximum Budget Set Monday, February 28, :00 p.m. Public Hearing & Final Adoption of Budget Prepared by the Administrative Services Department

4 Property Tax Per Capita (FY10) 20 Largest Iowa Cities Cedar Falls local government continued to operate at one of the lowest per capita property tax rates among the 20 largest cities in Iowa in FY09. City FY10 Tax Per Capita 2000 Population Abbreviation Dubuque ,686 DU Burlington ,839 BU Marshalltown ,009 MA Fort Dodge ,136 FD Cedar Falls ,145 CF Mason City ,172 MC Sioux City ,013 SC Ames ,731 AM Clinton ,772 CL Des Moines ,682 DM Waterloo ,747 WA Marion ,294 MA Davenport ,359 DA Bettendorf ,275 BE Cedar Rapids ,758 CR Council Bluffs ,268 CB Urbandale ,072 UR Iowa City ,220 IC Ankeny ,117 AN West Des Moines ,403 WDM Average Cedar Falls Tax Rate History Between FY04 and FY11, the tax rate decreased 7.66%. In FY11, taxable values increased by 3.12% but the decrease in tax rate will show a net increase of 2.66% for the average home owner. In FY11, the tax rate decreased from $13.02 to $12.99.

5 Breakdown of Property Taxes Paid FY10 County School H.C.C. & Other City Taxes paid per $1,000 of Taxable Valuation (FY10) (A) (B) (C) City $13.02 X = School District $13.73 X = County $6.71 X = H.C.C. & Other $1.34 X = Less: Homestead Credit ( ) Military Credit ( ) Total $34.80 To calculate the tax breakdown for your own home, divide your property s TAXABLE VALUE by 1,000; enter the result into column (B) and multiply by the figures in column (A). To calculate the Homestead Credit, divide $4,850 by 1,000 and multiply by the total tax rate in Column (A). To calculate the Military credit, divide $1,852 by 1,000 and multiply the total tax rate in column (A). Homestead and Military credits are deducted from the total tax due. The following is an example for a home with a GROSS ASSESSED VALUE of $100,000: $100,000 x % (State Rollback) = $45,589 (Taxable Value)/1,000 = x $13.02 = $ paid in City taxes; $ paid in School taxes; $ paid in County taxes; $61.09 paid in H.C.C. & Other taxes; and $1, paid in total. If applicable, Military and Homestead credits would reduce the total tax due by $

6 Where The Money Comes From FY11 Intergovernmental $36,913,345! "#$#% Property Tax $15,752,071 $1,742,120 TIF Revenues $7,560,640 Miscellaneous $6,194,114 Licenses & Permits $851,200 Charges for Services $10,030,800 Other Financing Sources $21,076,160 Other City Taxes $5,050,860 REVENUE TERMS Property Taxes: Funds received from taxes levied against private property. TIF Revenues: Funds provided by incremental increases in tax revenues derived from increased taxable valuations in TIF districts. Other City Taxes: Funds received from local option sales tax and hotel/motel taxes. Licenses and Permits: Fees paid by persons for various items such as building permits, burial permits, and business licenses. Use of Money & Property: Income received on investments and lease income. Intergovernmental: Funds received from the Federal or State Government such as Block Grants, Rent Assistance, Road Use Tax, Liquor Profits, and funds received from the Cedar Falls Utilities. Charges for Services: Fees paid by persons for services they use such as garbage collection, sewer rental and other services. Special Assessments: Funds received from compulsory levies on certain properties. Miscellaneous: All other sources of revenue received, including refunds and donations. Other Financing Sources: Monies transferred between various funds of the City and bond proceeds.

7 Public Safety $8,358,320 Where The Money Is Spent FY11 Public Works $15,427,900 Culture & Recreation $6,583,570 Transfers $13,469,660 Health & Social Srvcs $187,250 Community & Econ. Dev. $2,615,370 General Government $4,523,380 Debt Service $4,361,450 Business Type Enterprises $14,450,900 Capital Projects $32,672,630 EXPENDITURE TERMS Public Safety: Expenditures for police, fire, civil defense, inspections, and animal control. Public Works: Expenditures for street repair, street construction, parking, street lighting, and engineering. Health & Social Services: Expenditures for hospital and related health services. Culture & Recreation: Expenditures for library, parks, recreation, cemetery, community center, and visitors and tourism. Community & Economic Development: Expenditures for economic development, federal housing programs, and planning and zoning. General Government: Expenditures for financial services, public records, legal, personnel, and cable television. Debt Service: Expenditures for the retirement of principal and interest on bonds that are due during the budget year. Capital Projects: Expenditures for major capital projects. Business Type Enterprises: Expenditures for Refuse and Sewer operations. Transfers: Expenditures transferred between various funds of the City.