City of Oxford, Ohio 2014 Popular Annual Financial Report for the year ending December 31, 2014

Transcription

1 City of Oxford This report was prepared for the Citizens of the City of Oxford to provide a condensed overview of the City s financial results as of December 31, The information contained in this report was obtained from the City s 2014 Comprehensive Annual Financial Report (CAFR), which is prepared in conformance with Generally Accepted Accounting Principles (GAAP). The City s 2014 CAFR was audited by the Clark, Schaefer, Hackett & Co. and received an unmodified (clean) opinion. This report is unaudited and is presented on a GAAP basis. To obtain an audited CAFR with complete financial results a copy is available in the Finance Department at City Hall and is also posted on the City s website: /cafr City of Oxford, Ohio 2014 Popular Annual Financial Report City Council Kevin McKeehan Mayor Kate Rousmaniere ViceMayor Bob Blackburn Councilor Richard Keebler Councilor Mike Smith Councilor Steve Snyder Councilor Edna Southard Councilor

2 Page 2 City of Oxford, Ohio 2014 Popular Annual Financial Report

3 Page 3 Oxford is located southwest of Dayton and north of Cincinnati in a primarily rural area in the Miami Valley Region of Southwestern Ohio. The City lies approximately 6 miles east of the Indiana state line in the northwest corner of Butler County. The City has a population of approximately 21,371 (2010 census) and covers an area of approximately 7.50 square miles. Oxford was organized as a municipality in 1830 as a direct result of the growing prominence of Miami University, which was founded in 1809 as a state university and plays a significant role in the community. Oxford possesses a college-town environment in a beautiful rural setting. The University, with a student population of approximately 18,456 based on fall of 2014 enrollment, is both a direct and indirect source of many jobs in the City. The University also contributes substantially to the social and cultural environment enhancing Oxford s unique living experience. Forbes Magazine reported that a study conducted by WalletHub, the City of Oxford was rated the number one College city out of 280 covered in the survey. The survey looked at academic, social and economic variables to reach their conclusions

4 Governmental Activities - Expenses by Function Expenses Security of persons and property $6,029,165 $5,776,151 How your money is spent Public health services 122, ,080 Leisure time activities 1,703,467 1,664, % 0.5% 46.8% Security of persons and property Public health services Page 4 Community and economic development 896, ,627 Transportation 2,437,072 2,346,876 General government 1,657,466 1,842, % 6.9% Leisure time activities Community and economic development Transportation Interest on long-term debt 58,835 65,189 Total governmental activities 12,905,043 12,694, % 0.9% General government Interest on long term debt

5 Governmental Activities - Expense Descriptions Page 5 Functions/Programs Major Services Provided Security of persons and property Policing, dispatch for Police and Fire & EMS, animal control, street lighting and marking as well as capital spending Public health services Cemetery maintenance, Butler County health services and various donations to local agencies Leisure time activities Senior Center upkeep, swimming pool operations, concession for both pool and park, park maintenance, recreational programs and administration as well as capital spending Community and economic develop- Planning, Inspections, economic development, urban forestry, Community Block Dement velopment spending as well as capital spending Transportation Street maintenance and repair, State Highway spending, Parking control as well as capital spending General government Management Information Services, City Manager, Finance, Income Tax, Law, Human Resources, Clerk and Council, Municipal and Court House upkeep, City Garage, Engineering, Insurance as well as capital spending The above descriptions of major services provided are intended to give the reader a better understanding of them and is not meant to be an all inclusive list.

6 Governmental Activities - Revenue by Type Page 6 Revenues Charges for services $2,437,036 $2,289,910 Operating grants & contributions restricted to specific programs Capital Grants and Contributions restricted to specific programs 588,411 1,410, ,081 2,104,993 Income taxes general 7,935,333 7,104,280 Income taxes fire & EMS 1,143,925 1,027,187 Property & other taxes 1,235,909 1,209, % 7.3% How your money is earned 15.6% 3.0% 0.8% 2.2% 0.2% 3.8% 9.0% Charges for services Operating grant & contributions restricted Capital grant & contributions restricted Income taxes general Income taxes fire & EMS Operating grants & contributions not restricted to specific programs 467, ,731 Investment earnings 130,387 36,463 Miscellaneous 345, ,957 Transfers (30,000) (40,000) Total governmental activities 15,664,613 15,152, % Property & other taxes Operating grant & contributions not restricted

7 Governmental Activities - Revenue Descriptions Page 7 Revenues Major Sources Charges for services Fines, Cost & Forfeitures, EMS Billings, Township EMS Contributions, Rent, Dog License Sales, Cemetery Charges, Special Assessments, Senior Center Rent, Concessions, Swimming Pool Receipts, Recreation Fees, Ball Field Rentals, Various Permits, Zoning Fees, Loan Repayment Interest, Auction Sales, Meter Revenues, Parking Leases as and Permits, Cable Franchise Fees, Various Sales, Fees and Charges Operating & capital grants & contri- Various Federal, State, Miami University, County Grants and Payments, Alcohol Education Fees, butions 4th of July and special events contributions, Red Brick & Ivy Gifts, Motor Vehicle Licenses Fees, Gasoline Taxes, and Contributed Capital Income taxes general 1.75% Earnings Tax Income taxes fire & EMS 0.25% Earnings Tax Property & other taxes Property Taxes, Hotel & Convention Taxes and Cigarette Taxes Investment earnings Interest on Investments Miscellaneous Auction Proceeds, Contributions, Memorial Tree Purchases, Various Contributions and Reimbursement from various sources Transfers Movement of monies between Funds The above descriptions of major sources of revenue are intended to give the reader a better understanding of them and is not meant to be an all inclusive list.

8 Business-type Activities - Expenses by Function How your money is spent Expenses Water $2,433,786 $2,384, % 0.4% 35.7% Water Sewer 2,875,139 2,664,910 Refuse 1,483,773 2,387,231 Sewer Page 8 Storm Water 25,477 26,461 Total Business-type activities 6,818,175 7,463,410 Refuse 42.1% Storm Water Did you know the City of Oxford had no rate increases for Water, Sewer and residential Refuse rates for the year beginning January 1, Commercial rates were approximately 15% less than 2014 due to a new contract entered into by the City

9 Business-type Activities - Expense Descriptions Page 9 Functions/Programs Major Services Provided Water Water plant operations, customer service, well maintenance, distribution, administration, allocations from Management Information Services, City Manager, Finance, Human Resources, Legislative, Engineering, Insurance as well as capital spending Sewer Treatment plant operations, customer service, collection, administration, allocations from Management Information Services, City Manager, Finance, Human Resources, Legislative, Engineering, Insurance as well as capital spending Refuse Collection & Transfer Station, administration, Utility Billing & Collections, Insurance as well as annual landfill post-closure maintenance Storm Water Storm water sewer maintenance The above descriptions of major services provided are intended to give the reader a better understanding of them and is not meant to be an all inclusive list.

10 Business-type Activities - Revenue by Type How your money is earned Page 10 Revenues Charges for services $6,952,307 $7,166,548 Operating grants & contributions restricted to specific programs Capital Grants and Contributions restricted to specific programs 12,861 15,971 1,085, ,580 Investment earnings 111,214 40,419 Miscellaneous 40,884 38, % 13.2% 1.4% 0.5% 0.4% Charges for services Operating grant & contributions restricted Capital grant & contributions restricted Investment earnings Miscellaneous Transfers 30,000 40, % Transfers Total governmental activities 8,232,529 7,695,602

11 Business-type Activities - Revenue Descriptions Page 11 Revenues Major Sources Charges for services Auction Sales, Water Sales, Water Meters & Taps, Account Initiation Fee, Backflow Preventer Permits, Sewer Collection Charges, Sewer Taps, Refuse Collection Charges, Refuse Dumpster Charges, Refuse Recycling Charges, One-Time & Yard Waste Permits Operating & capital grants & contri- Water & Sewer Capacity Benefit Contributions, Butler County Recycling Incentive, and butions Contributed Capital Investment earnings Interest on Investments Miscellaneous Miscellaneous sales, Special Assessments, Various Reimbursement from various sources Transfers Movement of monies between Funds The above descriptions of major sources of revenue are intended to give the reader a better understanding of them and is not meant to be an all inclusive list.

12 Page 12 City of Oxford, Ohio 2014 Popular Annual Financial Report Income Tax Receipts 9,000,000 8,000,000 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000, General Fire/EMS Income Tax Facts & Figures In 1946, the City of Toledo established the first municipal income tax in the State of Ohio. In 1957, the Ohio General Assembly enacted Uniform Municipal Income Tax Law providing broad regulations for municipalities to follow. On May 19, 1970 the City Council of the City of Oxford passed Ordinance No imposing a 1% municipal income tax. The City of Oxford s income tax rate was increased by.75% to 1.75% in January 1, 1994 following passage of a Levy during In August of 2007, the City of Oxford contracted with RITA (Regional Income Tax Agency) for the administration and collection of it s municipal income tax. In the fall of 2010, Issue 15 was approved by 63% of voters to increase the rate by.25% in order to provide a major funding source for the City of Oxford s Fire & EMS operations. In 2014, income tax receipts accounted for 70.7% of all General Fund revenues. Theses funds help support many core services provided by the City of Oxford as well as paying for Capital improvements and equipment associated with these core services. In 2014, income tax receipts accounted for 63.8% of all Fire & EMS Fund revenues. These funds help support many core services provided by the Fire & EMS department as well as paying for Capital improvements and equipment associated with these core services. As a result of the passage of Issue 15 in the fall of 2010, and the subsequent collections beginning 2011, the City s Fire & EMS department is now a 24 hour 7 day a week operation with a minimum of 3 members per shift.

13 Page 13 Property Taxes 2014 Property Tax Payment Calculation County Taxable Value Value 25,000 8, ,000 26, ,000 35, First Half Tax Second Half Tax , Inside Millage Effective Tax % Rate Millage Due Total City of Oxford % Oxford Township % Talawanda CSD , Butler County % Butler County JVSD % Metro Parks % Lane Public Library % , % 1.11% 1.67% 4.30% 20.28% Property Tax Distribution 8.14% 0.54% 63.96% City of Oxford Oxford Township Talawanda CSD Butler County Butler County JVSD Metro Parks Lane Public Library Property Tax Facts & Figures County auditors must reappraise all real estate every six years. County auditors must update these values three years following the reappraisals. Property taxes are based on 35% of the market value (value County Auditor assigns a property) except certain agricultural property. Example: Property s Market Value = $100,000 Taxable Value = $100,000 X 35% = $35,000 City of Oxford Effective Millage = 3.65 Tax Due to City of Oxford $35,000 X 3.65 = $127,750 / 1,000 = $ This example does not take into account any special provisions like 10% property tax rollback or 2.5% property tax homestead rollback. Currently both of these exemptions are reimbursed by the State of Ohio to local governments. For further explanation of property taxes visit This website is an excellent resource to obtain information on property taxes in Butler County, Ohio.

14 City of Oxford 101 East High Street Oxford, Ohio Monday-Friday 8 a.m. - 5 p.m. Phone: Visit our website: City of Oxford Home of Miami University Brief History of Oxford and Miami University In 1803, a college township was set aside in the almost uninhabited woodlands of northwestern Butler County. In 1810, a year after Miami University was chartered, the Village of Oxford was laid out and the first lots were sold. In the following year the first school was built and by 1830, with a population of over 700, the Village of Oxford was incorporated. A charter form of government was adopted in 1960 and a decade later population growth had turned the village into a fullfledged city. The original boundaries of the City consisted of the Mile Square. A number of annexations during recent decades increased the size, resulting in the City currently consisting of approximately seven square miles. Miami University was founded in 1809 and has about 14,000 undergraduate students today. Miami University is the second oldest liberal arts educational institution in Ohio. Miami University is well known for development of the City Manager Phone Numbers & Locations East High Street McGuffey Readers by W.H. McGuffey, that began publication in The six readers were Economic Development East High Street based on landmarks of world literature that had good basic values. HR/Clerk of Council East High Street The readers were used over one Community Development East High Street hundred years in United States Building & Housing East High Street schools. Finance East High Street Utility Billing East High Street Service East High Street Engineering East High Street Parking Control East High Street Police Dispatch South Poplar Street For all Emergency Police, Police Administration South Poplar Street Fire or EMS calls dial... Animal Control South Poplar Street Police Records South Poplar Street Fire South Elm Street 911 Parks & Recreation Fairfield Road Streets & City Garage Collins Run Road Wastewater Collections McKee Avenue Wastewater Plant McKee Avenue Water Distribution Trenton Oxford Road Water Plant Trenton Oxford Road