Upload
paytah
View
47
Download
0
Embed Size (px)
DESCRIPTION
TOWN OF ORONO. FY2014 Draft Municipal Budget Presentation June 10, 2013. What Does the Budget Do?. Describes the annual proposed plan of work & projects associated costs; Determines the amount of money that needs to be collected from taxpayers to fund municipal services; and - PowerPoint PPT Presentation
Citation preview
TOWN OF ORONOFY2014 Draft Municipal Budget PresentationJune 10, 2013
What Does the Budget Do?
•Describes the annual proposed plan of work & projects associated costs; •Determines the amount of money that needs to be collected from taxpayers to fund municipal services; and• Is part of the formula used to establish the tax (or mil) rate.
Components of Tax RateMunicipal Budget
•Departmental Operations (Municipal Services)•Proposed Capital Projects (Infrastructure Improvements)•Municipal Debt Obligations (Previously Approved by Council) •Appropriations to Reserve (Saving for Future Capital Needs)
Components of Tax RatePenobscot County Tax Assessment
•Separate Budget Process •County Commissioners Adopt Budget•Mandatory Assessment to Penobscot County Towns•Calculated by Valuation-Based Formula
Components of Tax RateRSU #26 Assessment
•Separate Budget Process •RSU Budget Meeting (5/27/2014)•Referendum Election to Ratify School Budget Meeting Results (6/10/2014)•Mandatory Assessment
2015 Proposed BudgetMu-nicipal36%
RSU #2659%
County5%
Chart Title
Proposed Tax Rate SummaryFY2015 vs. FY2014•Municipal Budget $ 99,872
•RSU #26 Assessment $100,277
•Penobscot County Tax $ 17,551
Net Change to Tax Commitment $217,699 (2.24%)
Municipal Budget Components
• General Funds• Special Revenue Funds• Tax Increment Financing Funds• Capital Improvement Budget• Special Project (Bond Funds)• Enterprise Funds (WPCF)
Net General Fund Budget is the municipal component of
the tax rate.
2015 Municipal BudgetGeneral Fund Expenditure Summary
•Operations $6,168,883• Self-Funded Programs 91,088• Capital & Reserve 757,178•Debt Obligation 411,167 • Contingency 10,000• Total $7,438,316
Up a total of $220,520 (or 3.06%)
over FY14
2015 Municipal Budget General Fund Revenue Summary
• General Revenue $2,325,428• Self-Funded Programs 91,088• Intergovernmental 877,500• Special Fund Reserves 28,500 • Fund Balance Transfer 350,000• Total $3,672,516
Up a total of $36,169 (or 0.99%)
over FY14
2015 Municipal BudgetNet Summary - (General Fund)
•Operations $2,481,061 •Capital & Reserve 728,678•Debt Obligation 411,167 •Total $3,620,906
Up a total of $99,872
(or 2.84%) over FY14
Municipal Budget HighlightsGeneral Fund Operations
Maintains Existing Service Levels
Reduces Personnel by 50% FTE
Projected FY15 Tax Rate
$23.95 per $1,000 Taxable Valuation
• Municipal Services 8.73
• School Assessment 14.02
• County Assessment 1.20
Tax Rate ComparisonFY15 vs. FY14
Increase of $0.75/ $1,000 Taxable Valuation
•Municipal Services $0.32
• School Assessment $0.37
• County Assessment $0.06
FY15 Tax Rate Calculation
Tax Rate =
Net Municipal, County & School CostAssessed Non-TIF District Valuation
Loss of $4M in Valuation results in approximately $0.23 of total tax rate increase
Taxpayer Impact (by Taxable Value)FY15 vs. FY14
Town School County Total
$ 100,000 $ 32 $ 37 $ 6 $ 75
$ 150,000 $ 48 $ 55.50 $ 9 $112.50
$ 200,000 $ 64 $ 74 $ 12 $150
$ 250,000 $ 80 $ 92.50 $ 15 $187.50
$ 300,000 $ 96 $ 111 $ 18 $ 225
$ 350,000 $ 112 $ 129.50 $ 21 $262.50
Capital ImprovementFY2015 Budget
2015 Municipal BudgetCapital Budget Expenditure Summary
• Capital Equipment $349,178• Capital Infrastructure 732,500• Capital Facilities 119,000• Capital Reserve 65,000 • Total $1,265,678
Up a total of $424,078 (or 50.3%)
over FY14
2015 Municipal Budget Capital Budget Revenue Summary
• General Taxes $757,178• Reserves 302,500• Trade-In/Surplus Sale 33,000• Grants 173,000 • Total $1,265,678
Draw on General Fund
Taxes up a total of
$157,578 (or 26.28%)
over FY14
2015 Municipal BudgetNet Summary - (Capital Budget)
•Equipment $ 88,178• Infrastructure 532,500•Facilities 71,500 •Reserve 65,000•Total $757,178
Municipal Budget HighlightsCapital Projects - Equipment• Fire Engine
•Capital Repairs to Fire Chief Vehicle
•Police Cruiser
•Police Technology Upgrade
•Police Firearms Replacement
•Public Works Truck (10 Wheeler)
Municipal Budget HighlightsCapital Projects - Infrastructure
• Island Avenue Drainage, Street, & Sidewalk
• Kelley Road Extension Rehabilitation
• Crosby Street Reclaim (Planning/Design)
• Fiber Optics Last Mile Project
Municipal Budget HighlightsCapital Projects - Facilities
• Birch Street School Pedestrian Footbridge Decking
• Library Staff Work Area & Community Room Renovations
• Library Landscaping Project
• Police Patrol Room Renovation
• Public Safety Building Roof
Municipal Budget HighlightsCapital Projects - Reserves
• Capital Equipment Reserves
• Library Maintenance Reserve
Tax Increment Financing DistrictsFY2015 Budget
TIF Funds Budget is the budgeted usage and appropriation to
Town’s Tax Increment Financing Districts
2015 Municipal BudgetTIF Funds Summary
Projected Revenue $762,070
Budgeted Expenses• Economic Dev. Salary 91,581• Contractual 95,572• CEAs 159,868• Debt Service 350,005
Total Budgeted Expenses $697,026
Net Retained in Funds $ 65,045
2015 Municipal BudgetDowntown & Transit Oriented TIF Fund Summary
Projected Revenue $464,115
Budgeted Expenses 439,749
Net Retained in Funds $24,366
2015 Municipal BudgetMaine Tech Park (SRD) TIF Fund Summary
Projected Revenue $37,212
Budgeted Expenses 30,178
Net Retained in Funds $7,034
2015 Municipal BudgetEnvisioNet TIF Fund Summary
Projected Revenue $109,370
Budgeted Expenses 82,505
Net Retained in Funds $26,864
2015 Municipal BudgetDirigo Pines TIF Fund Summary
Projected Revenue $106,173
Budgeted Expenses 106,173
Net Retained in Funds $0
2015 Municipal BudgetWebster Point TIF Fund Summary
Projected Revenue $45,201
Budgeted Expenses 38,421
Net Retained in Funds $6,780
Special Revenue FundsFY2015 Budget
Special Revenue Fund Budget is the budgeted usageand appropriation to
Town’s Reserves
2015 Municipal Budget Special Revenue Fund Budget Summary
Appropriations to Fund $ 563,820
Usage of Fund $1,033,305
Net Increase/(Decrease) ($469,485)
Special Projects (Funded by Bond)FY2015 Budget
WPCF Budget Highlights
New Public Works Facility $5,625,000
Rehabilitation of Existing Pine Street Parking Lot & Stabilization of the Gully on Pine Street
$350,000
Water Pollution Control FacilityFY2015 Budget
Departmental Overview
The Water Pollution Control Facility (WPCF) operates as a separate
proprietary fund. Its operation is funded through revenue derived from user fees,
operations, and grants….
Not through the property tax.
WPCF Budget Highlights
Maintains Current Service Level
Continued Capital Expenditure & Reserve Appropriations
Maintains Current User Rates
WPCF – Expense Summary•Operations $ 842,611•Reserve Appropriations $ 272,935•Debt $ 506,000•Total Operating Budget $1,621,546
•Capital Improvements $325,500
•Grand Total $1,947,046
WPCF Expenses – FY14 v. FY13
•Operating Budget ($ 2,471)•Capital Debt ($126,780)•Capital Reserve Funding $147,935•Capital Budget $ 98,730
• TOTAL CHANGE: $117,414
Sewer User Fees – No ChangeConsumption Minimum
Rate/100 cu ft Charge/Qtr2010 $4.44 $53.28
2011 $4.54 $54.48
2012 $4.54 $54.48
2013 $4.54 $54.48
2014 $4.54 $54.48
2015 $4.54 $54.48