THOMASVILLE CITY SCHOOLS (CITY)

Transcription

1 THOMASVILLE CITY SCHOOLS (CITY) CITY OF THOMASVILLE Employees, Employee Relations, and Labor Organizations of the City For Fiscal Year 2012 (Series 2012 only) The City of Thomasville has approximately 440 employees. The City's management believes that is enjoys an excellent relationship with its employees. The City has never experienced a major disruption of services due to a strike or employee action. No employees belong to labor unions or other collective bargaining groups and the City has no knowledge of any union organizing efforts Summary of the City Debt by Category Amount Category of Debt Amount Issued Outstanding General Obligation Bonds The Bonds Series 2012 Bonds 11,400,000 11,400,000 Series 2007 Bonds 10,000,000 4,220,000 Bank Notes 3,210,651 GMA Notes 424,028 GEFA Loans 2,296,091 TOTALS $21,400,000 $21,550,770 Amount to be Outstanding Upon Issuance of Bonds 11,400,000 4,220,000 3,210, ,028 2,296,091 $21,550, Computation of Legal Debt Margin Gross Tax Digest for the City / School District as of January 1, 2012 $635,424,015 Less School District Maintenance & Operations Exemptions Net Tax Digest for City of Thomasville School Bonds $635,424,015 Debt Limit (10% of Net Tax Digest for School Bonds) $63,542,402 Less Amount of Outstanding Debt Applicable to Debt Limit Legal Debt Margin $63,542,402 Debt Service Schedule Calendar Year Ending Dec 31 Principal Interest 2008 $361, $1,860, $461, $1,925, $382, $1,995, $300, $2,070, $211, $2,150, $107, Total Annual Debt Service Requirement $361, $2,321, $2,307, $2,295, $2,281, $2,257, Totals: $10,000, $1,825, $11,825,116.04

2 For Fiscal Year 2012 Property Tax Collections (Insert information here ) Included in CAFR Millage Rates School District City of Incorporated State of District Wide Included in CAFR Year M & O Thomasville County Georgia Incorporated Total M&O Property Tax Digest Within the School District ASSESSED VALUES: Real & Personal $674,961,249 $675,222,437 $674,979,118 $629,507,570 $616,619,572 Public Utilities 9,506,661 5,705,019 5,916,445 5,916,445 5,916,445 Motor Vehicles 41,065,450 41,355,170 37,071,550 37,250,730 38,790,970 Mobile Homes 11,684 32,312 12,247 11,060 8,604 Timber 100% 0 2,078 1, Heavy Equipment Gross Tax Digest $725,545,044 $722,317,016 $717,980,595 $672,685,805 $661,335,591 Less Bond Exemption Net Bond Tax Digest 725,545, ,317, ,980, ,685, ,335,591 Gross Tax Digest 725,545, ,317, ,980, ,685, ,335,591 Less M&O Exemptions (19,721,005) (1,566,539) (16,137,909) (17,530,849) (15,063,095) Net M&O Tax Digest 705,824, ,750, ,842, ,154, ,272,496 Estimated Actual Value $1,813,862,610 $1,805,789,423 $1,794,949,635 $1,681,714,513 $1,653,338,978

3 M&O Tax Levies and Collections for the City and the School District School District's M&O Tax Levy $8,235,146 $11,155,503 $11,101,202 $11,170,039 $10,346,756 City's M&O Tax Levy 1,517,799 1,663,540 1,623, , ,055 Current Year's M & O Tax Levy $9,752,945 $12,819,043 $12,724,849 $12,111,059 $10,921,811 Less: 1.25% Collection Fee (102,939) (139,444) (138,765) (139,625) (129,334) Total Current Year's Net M&O Tax Levy $9,650,006 $12,679,599 $12,586,084 $11,971,434 $10,792,477 Tax Collections School District's Current Year Tax Collection $9,207,901 $9,443,979 $10,439,245 $10,122,526 $9,414,366 City's Current Year Tax Collection 1,314,697 1,438, , , ,495 Total Current Year's Tax Collection $10,522,598 $10,882,809 $11,367,473 $10,984,254 $9,942,860 School District's Prior Year Tax Collection $911,842 $212,039 $434,065 $617,341 $551,201 City's Prior Year Tax Collection 168,780 39,162 77,645 83,731 62,270 Total Prior Year's Tax Collection $1,080,622 $251,201 $511,710 $701,072 $613,470 Total Tax Collections $11,603,220 $11,134,010 $11,879,183 $11,685,326 $10,556,331 Total Current Year's Tax Collections as a Percent of Current Year's Net Tax Levy 109.0% 85.8% 90.3% 91.8% 92.1% Total Tax Collections as a percent of Total Current Year's Net M&O Tax Levy 102.2% 87.8% 94.4% 97.6% 97.8% Uncollected Current Year's M&O Property Taxes $0 $1,936,234 $1,357,376 $1,126,805 $978,951 Due Date of Taxes 12/20/ /20/ /20/ /20/ /20/2011 Fiscal Year Begins 7/1/2007 7/1/2008 7/1/2009 7/1/2010 7/1/2011 Fiscal Year Ends 6/30/2008 6/30/2009 6/30/2010 6/30/2011 6/30/ Ten Largest Taxpayers Assessed Value Taxable as a % of Gross Taxes Levied for Taxpayers Type of Business Assessed Value Assessed Values the School District 1 Included in CAFR Totals: Pension Plan (Series 2012 only) For Fiscal Year 2012 The City maintains a single employer defined benefit pension plan (the "Plan") where by eligible employees, who voluntarily join, contribute 7.5% of base pay annually and the City contributes 11.25% annually, subject to certain caps. The Plan, adopted in 1949 and amended in 2002, was closed to new members in January 2002, and employees were permitted to transfer to a defined contribution plan. Commencing January 1, 1997, all full time employees were eligible for Plan membership. Employees of the School District are not Plan participants. As of December 31, 2011, there were 73 active Plan participants and 117 retirees and beneficiaries currently receiving benefits and terminated employees entitled to benefits but not yet receiving them. Total contributions to the Plan in calendar year 2011 amounted to $668,140, of which $400,917 was made by the City and $267,223 was made by the employees. See Note 4 of the City's financials statements for more detailed information concerning the Plan. Effective June 1, 2000, in accordance with the City Charter, the city created the City of Thomasville Retirement Savings Plan (the "Contribution Plan"), a money purchase defined contribution plan. The Contribution Plan is available to all full time employees. An independent party, Hartford, maintains accounts for each participant and administers the Contribution Plan. The City contributes 1.75% of each Contribution Plan participant's base salary. In addition, the City also make a matching contribution based on the amount that each participant defers under the employers 457 plan, limited to an employer contribution of 6%. Benefits depend solely on amounts contributed to the Contribution Plan and investment earnings, reduced by expenses and investment losses. Participants are vested in and entitled to all balances in their accounts after five years of service. The City has a right to amend the Contribution Plan by resolution. For the year ending December 31, 2011, the City contributed $577,604 to the Contribution Plan. There were no employee contributions to the Contribution Plan.

4 2012 Insurance Coverage of the City Type Property Buildings and Contents Boiler & Machinery Automobile Physical Damage Amount in Force $98,716,322 $98,716,322 Actual Cash Value Limits of Liability Type Each Occurrence Annual Aggregate Casualty General Liability (Other than Fiber Optic Operations) $1,000,000 Unlimited General Liability (Fiber Optic Operations) $5,000,000 Excess General Liability (Fiber Optic Operations) $10,000,000 $10,000,000 Law Enforcement Liability $1,000,000 $5,000,000 Automobile Liability $1,000,000 $5,000,000 Public Officials Liability $1,000,000 $5,000,000 Employee Benefits Liability $1,000,000 $5,000,000 Crime Blanket Bond $500,000 Depositors Forgery $500,000 Money and Securities $500,000 Five Year General Fund History CAFR Revenues General only Taxes, General $674,559 $617,905 $602,050 $547, Property Taxes 1,639,041 1,588, , ,832 Sales Taxes 2,085,667 1,987,411 2,027,445 2,081,652 1,781,865 Business Taxes 1,692,493 1,651,381 1,634,512 1,492,289 1,625,995 Licenses, permits and fees 261, , , , ,634 Penalties and interest on delinquent taxes 106, , , , ,035 Intergovernmental 221,787 95, ,512 67,364 46,415 Charges for Services 322, , , , ,339 Fines and Forfeitures 344, , , , ,546 Contributions and donations 100 Investment Earnings 2, Interest Income Miscellaneous Revenue 63, ,799 95, ,206 98,820 Total Revenues $7,414,873 $7,171,009 $6,916,053 $6,059,951 $5,354,131 Expenditures Current General Administration $1,732,001 $1,729,637 $1,777,295 $1,883,954 $2,034,873 Financial Administration Public Safety 7,983,289 8,055,739 8,464,033 8,906,600 9,114,849 Highways and Streets 1,825,703 1,877,931 2,084,056 2,160,654 2,349,660 Economic Development - Main Street 375, , , , ,373 Culture and Recreation Physical Environment Debt Service Principal 625, , , , ,624 Interest 69,638 34,575 28,156 29,354 36,182 Capital Outlay General Administration 26,300 49,000 63,977 Public Safety 963, , , , ,868 Highways and Streets 248, , , , ,150 Economic Development 432,363 20,844 Total Expenditures 13,849,728 13,472,368 14,202,818 15,106,594 15,470,579 Excess (Deficiency) of Revenues Over (Under) Expenditures (6,434,855) (6,301,359) (7,286,765) (9,046,643) (10,116,448) Other Financing Sources (Uses) Transfers In 5,775,814 6,506,361 6,517,144 8,308,162 9,515,271 Transfers Out Debt Issuance 1,093, , , , ,177 Contributions to landfill Proceeds form Long-Term Debt Transfers to Component Units Total Other Financing Sources (Uses) Excess (Deficiency) of Revenues & Other Financing Sources Over Expenditures & Other Financing Uses 6,869,423 6,616,228 7,377,724 8,731,779 10,116,448 Net Change in Fund Balance 434, ,869 90,959 (314,864) 0 Fund Balance - Beginning of Year (524,932) (90,364) 224, , Fund Balance - End of Year ($90,364) $224,505 $315,464 $600 $600

5 Current Budget Fiscal Year Ending December 31, 2012 Revenues Taxes $4,522,800 Charges for Services 201,888 Intergovernmental 90,000 Fines and Forfeitures 338,660 Licenses and Permits Total Expenditures 476,000 Revenues from Use of Money 1,025,217 Sales and Recoveries 131,000 Total Revenues $6,785,565 Expenditures City Council $314,411 City Manager 379,731 City Clerk 98,698 Main Street 390,006 Risk Management 99,445 Fire Protection 3,271,761 Police Protection 6,545,304 Street Department 2,549,561 Planning and Zoning 1,069,850 Neighborhood Development 135,523 Total Expenditures $14,854,290 Excess (Deficiency) of Revenues Over Expenditures ($8,068,725) Other Financing Sources (Uses) Operating Transfer in (Out) 8,153,835 Proceeds from Capital Leases Total Other Financing Sources (Uses) 8,153,835 Excess (Deficiency) of Revenues & Other Sources Over Expenditures & Other Uses $85,110