Stutsman County 2018 Budget Presentation

Transcription

1 Stutsman County 2018 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 Maintaining funding for Parks capital projects Employee and Fringe Benefit Costs Step increase of 2% and health insurance increase of 2.1% with County maintained cost share Increase in election workers and election costs due to new voter ID laws

3 Revenues Total 2017 budgeted revenues $21,802,428 Total 2018 budgeted revenues $21,543,126 Total decrease for 2018 $259,302 Significant revenue decreases include: $139,360 in state aid distribution and $23,600 in federal PILT payment $115,371 transfer from highway aid and continued loss of state grants for road funding $63,000 in park rental income $30,000 in COPS grant $25,325 in social service revenue Significant revenue increases include: $100,000 in wind generation tax

4 Breakdown of Revenues Shared Revenue 33% Reimbursements 9% Fees 4% Grants 2% Taxes 3% Reimbursements Fees Grants Taxes Property Tax PILT 0% Transfers 13% Property Tax 35% Miscellaneous Transfers PILT Shared Revenue Miscellaneous 1%

5 Expenditures Total 2017 budgeted expenditures $22,628,948 Total 2018 budgeted expenditures $21,393,683 Total decrease for 2018 $1,235,265 Significant expenditure decreases include: $407,167 in road construction $231,714 in social service expenses due to state funding transition $403,575 in capital purchases for LEC and courthouse maintenance $65,000 in election costs and $45,600 in park capital purchases Significant expenditure increases include: $133,460 in total salary and benefit costs based on 2% step increase and 2.1% health insurance premium increase

6 Breakdown of Expenditures Miscellaneous 4% Cost Share 7% Transfers 14% Payroll Operating Expenses Travel / Training / Dues Capital Projects Utilities 2% Service Contracts 4% Maintenance and Repairs 2% Capital Projects 7% Payroll 50% Maintenance and Repairs Service Contracts Utilities Miscellaneous Cost Share Transfers Travel / Training / Dues 1% Operating Expenses 9%

7 Budgetary Imbalance Total Revenues $21,543,126 Total Expenditures $21,393,683 Net addition $149,443 Emergency Fund has a $277,983 addition to increase fund balance to pre 2009/2011 flood levels A few funds have small additions to their fund balances E-911 Fund has a $221,150 deficit due to anticipated capital purchase and utilization of fund balance

8 2018 Ending Balance Projections **Note: Social Services fund balance is mandated to be reduced to $500,000 on January 1, All excess fund balance shall transfer to the County general fund.

9 2018 Ending Balance Projections

10 2017 Mill Levy Note: Mill levies subject to change once assessment values are finalized by the State Board of Equalization. Hearing scheduled for October 5, 2017.

11 Mill Levy Comparison Mill Levy Comparison Mill Levy Mill Levy Effective Tax Rate 0.57% 0.56% 0.56% 0.54% 0.49% 0.48% 0.37%

12 County Property Tax Levy Distribution $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 (2017 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 (2017 Mill Levy) = $ Tax Due

15 Tax Implication of 2016 Mill Rate vs 2017 Mill Rate