2015 Fiscal Year Performance Report. Prepared by Resource Management May 3, 2016

Transcription

1 2015 Fiscal Year Performance Report Prepared by Resource Management May 3,

2 Agenda 1. Annual Performance Report 2. Financial Report 3. Economic Incentive Activity Report 2

3 2015 Annual Performance Report 3

4 2015 Annual Performance Report Format Key Result Indicator Dashboard (pg. 315 of packet and pg. 4 of report) Key Result Indicator Narratives (pg of packet and pg of report) Performance Measures by Organizational Goals (pg of packet and pg ) Visual Indicators : Meeting target : Not meeting target but showing stable or improving performance : Not meeting target 4

5 Key Results Dashboard 5

6 Highlights of of 13 Key Result Indicators (KRIs) met or exceeded target while one KRI was recalibrated Breakdown of remaining 100 measures: 13% 8% 79% 6

7 2015 Financial Report General Fund Recreation Fund Water & Sewer Fund Solid Waste Fund StormwaterFund 7

8 General Fund 8

9 General Fund Performance 2015 General Fund Revenues 2014 Actual 2015 Actual (Unaudited) Sales Tax 43,255,324 44,714,519 Property Tax 13,286,117 13,750,181 Franchise Tax 11,346,571 11,134,962 Intergovernmental 943, ,100 Fine and Forfeits 3,973,992 3,665,287 Transfers 5,838,850 6,122,917 Licenses and Permits 1,462,444 2,054,140 Miscellaneous 863,398 1,059,103 Charges for Services 5,091,114 5,033,308 Total Revenues 86,061,279 88,504,517 General Fund Expenditures 2014 Actual 2015 Actual (Unaudited) Personal Services 52,558,700 54,182,273 Contractual Services 15,534,458 16,659,541 Commodities 5,841,554 5,293,526 Capital Outlay 116, ,986 Transfers 10,706,521 10,412,115 Total Expenditures 84,757,981 86,968,441 General Fund Performance 2014 Actual 2015 Actual (Unaudited) Beginning Fund Balance 24,087,102 25,390,400 Revenues 86,061,279 88,504,517 Expenditures 84,757,981 86,968,441 Ending Fund Balance 25,390,400 26,926,476 Fund Balance - Gain /(Loss) 1,303,298 1,536,076 9

10 General Fund

11 Recreation Fund 11

12 Recreation Fund Report * Olathe Community Center opened July 1,

13 Water & Sewer Fund 13

14 Water & Sewer Fund Report 14

15 Solid Waste Fund 15

16 Solid Waste Fund Report 16

17 Stormwater 17

18 StormwaterFund Report 18

19 2015 Economic Development Incentives Activity Report 19

20 Economic Development Incentive Programs Tax Increment Financing Community Improvement Development District Transportation Development District Industrial Revenue Bonds Neighborhood Revitalization Property Tax Rebate Program Benefit Districts 20

21 Industrial Revenue Bonds 8 IRB s Created 61 Active IRB s 13 IRB s Terminated $48,994,980 Appraised Value $108,365,000 total investment for the 8 new IRB s 542 Jobs to be created over 10 years for the 8 new IRB s Property Abatement Projects: 4 Warehouses and 1 Office Not for Profit Projects: 2 Housing Sales Tax Abatement Project: Care Facility 21

22 IRB Example -TVH ,000 sq ft facility New jobs over 10 yrs 2005 $18,000,000 investment 552,180 sqftfacility today 184 hired over 10 year period $22,592,000 appraised value

23 Tax Increment Financing 8 Active TIF Areas Financing: Bonds Pay-As-You- Go Revenue Sources: Incremental Property Tax Increase; City General Sales Tax Transient Guest Tax Approximately 1, 039,946 square feet of retail space; Two hotels and a conference center Three financed by bonds and five financed pay-as-you-go Three capture 50% of Sales Tax; 4 capture 100% of Sales Tax; 1 captures 100% of TGT Three layered with other incentive programs 23

24 Transportation Development Districts 3 Active TDD Areas Financing: Bonds Pay-As-You- Go Revenue Sources: Sales Tax TDD Sales Tax Rates : 1% One project has bond financing and two are Pay-as-You-Go financing 24

25 Community Improvement Districts Win, LLC CID created (Furniture Mall) 3 Active CIDs Financing: Bonds Pay-As-You- Go Revenue Sources: Sales Tax Special Assessment CID Sales Tax Rates : 1% at Hilton Garden & Furniture Mall of KS; 2% at Embassy Suites. Pay-as-you-go financing Embassy Suites also has a Special Assessment to finance the $12,000,000 Special Assessment General Obligation Bonds 25

26 Benefit Districts JDC Olathe District Created (FedEx) 39 Active Benefit Districts 10 Terminated Districts $1,451,717 JDC District -- sanitary sewer main 11 Combination districts, 10 sanitary sewer, 17 street, and 1 waterline Terminated special assessments on 2,086 properties 25% of outstanding bonds are Benefit District Bonds: $46,064,089 26

27 Neighborhood Revitalization Property Tax Rebate 30 Properties Receiving Rebates 22 Residential Properties and 8 Commercial $74,180 in Rebate Payments to Property Owners The rebate applies only to taxes paid on the increase in the value related to the improvement, and not to the taxes related to the property value before the improvements. 90% of the incremental increase in property taxes on residential properties and 80% for Commercial is returned, for up to 10 years and is transferable with the property. 27