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9/11/2013 OVERVIEW 2014 GENERAL FUND & OTHER BUDGETS 1. 2014 BUDGET REQUESTS Total requested expenditures, per pg 13 of budget document 22,436,421 Personnel decision items requests, see additional handout 509,943 Estimated non-property tax revenues (6,859,135) Total required levy amount based on total requests 16,087,229 2. 2014 LEVY AMOUNT Maximum allowable levy amount, (State Levy Limit Worksheet) 15,549,369 Levy capacity shortfall (537,860) 3. 2014 MAXIMUM LEVY AMOUNT INCREASE OVER 2013 2014 Maximum allowable levy amount (State Levy Limit Worksheet) 15,549,369 2013 Approved levy amount 13,581,442 Maxmium allowable increase in 2014 City's levy amount 1,967,927 Maxmium percentage increase in 2014 City's levy amount 14.49% 4. TAX (MILL) RATE COMPARISON 2014 TO 2013 Estimated 2014 budget tax rate (at maximum levy amount) 6.76 Actual 2013 budget tax rate 6.04 Tax rate $ change budget years 2014 to 2013 0.72 Tax rate % change budget years 2014 to 2013 11.88% 5. USES OF $1,967,927 MAXIMUM ALLOWABLE LEVY AMOUNT INCREASE 1,967,927 Operating Decision Items from commitments, known events & policy changes, (Pg 2) (553,343) Funding 2013 one-time non-property tax revenues, (See Page 2) (726,530) 2014 debt increase over 2013 (Assumes 2014 capital program = $2.0 M) (602,434) 2% non-represented wage increases for parity with represented Police Officers (102,323) Various department and other operating budget reductions 276,303 Total remaining from maximum allowable levy amount increase 259,600 6. 5% INCREASE IN TAX RATE OVER 2013 Estimated 2014 levy amount with 5% tax rate increase over 2013 14,587,979 Levy dollar increase with 5% tax rate increase over 2013 amount 1,006,537 7. TID # 3 PROJECTS Downtown Brick Replacement 1,086,400 Terrace Avenue Project 4,300,000 Total Planned TID #3 Projects 5,386,400 8. GOLF Cumulative General Fund Cash Advance Through 2012 2,594,780 Estimated Cumulative TID # 3 Cash Advance Through 2014 1,703,150 Total 4,297,930 9. MUNICIPAL OPERATIONS CENTER New annual estimated debt service beginning 2015 ($10 million @ 4% for 20 years) 735,818 10. 2015 Any spending/levy increases in 2015 and beyond would be limited to reported "Net New Construction" growth percentage increases or voter approval of spending referendum. 2014 Budget Year Net New Construction Increase = 2.09% 1 of 2 ---PAGE BREAK--- 9/11/2013 OVERVIEW 2014 GENERAL FUND & OTHER BUDGETS (Continued) USES OF $1,967,927 MAXIMUM ALLOWABLE LEVY AMOUNT INCREASE DETAIL 1. Operating decision items from commitments, known events & policy changes (from Page Required new voting machiines 10,000 Election supplies due to more elections 33,300 Attorney fees 11,600 Contractual electrical inspections 9,627 Mileage for plumbing inspector 2,736 Police officer overtime 45,887 DaneCom related impact (equipment) 21,400 Annual fee for phone line connection to DaneCom system 4,000 Schedule software support for Police 4,500 2013 decision to move sidewalk repair to operating from capital 150,000 Refuse collection for new locations/homes 39,513 Recycling collection for new locations/homes 24,864 Storm sewer & ditch repairs to operating from capital 35,000 Salt purchase commitment under DOT contract 14,509 Library digital subscription increase 7,500 Anticipated increases in electricty for street lighting 7,000 Anticipated increases in electricty for traffic signals 1,000 Engineers continuing education requirements 1,184 Public Works fuel usage @ 2012 levels w/ anticipated 2014 prices 890 Required bridge inspections 175 City Hall gas & electricity usage @ 2014 prices 1,415 Madison Metro Transit to maintain existing service 67,243 Move invasive species control to operating from capital 60,000 Total 553,343 2. 2013 one-time non-property tax revenues (from Page TID # 3 Cost Recovery 226,530 2013 One-time Subdividers Fund & Debt Service Surplus 500,000 726,530 2016 Shortfall for golf debt service 2016 Golf debt service 2,275,700 2016 Golf operational dollars towards debt service (375,700) Estimated sinking fund towards 2016 debt (1,000,000) 900,000 Annual levy requirement of estimated shortfall 300,000 Estimated tax rate impact of funding $300,000 in 2014 through the levy 0.13 $ Estimated tax rate percentage increase of funding $300,000 in 2014 through the levy 2.16% The $300,000 could be added to the maximum allowable levy discussed on page 1 because an unlimited amount of general obligation debt service can be added to maximum allowable levy. The annual debt service shortfalls would continue to be advanced from TID #3 @ 1% annual interest. 2 of 2