Ocean City 2014 budget workshop presentation

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Information about Ocean City 2014 budget workshop presentation
News & Politics

Published on February 20, 2014

Author: OceanCityGazette

Source: slideshare.net

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Ocean City 2014 budget workshop presentation

2014 Local Municipal Budget p g

2014 Budget Summary 2014 2013 $ Diff % Diff Revenues Fund Balance 2,800,000 3,043,750 -243,750 -8.01% , , , , , Local Revenues 17,978,703 18,007,084 -28,381 -0.16% 2,146,048 2,146,048 , , , , 0.0% State Aid Grants 284,603 284,603 0.0% q 750,000 , 950,000 -200,000 -21.0% , , Delinquent Taxes Library Tax Levy 3,816,785 3,878,901 -62,116 -1.6% Local Tax Levy y 44,934,394 43,672,664 1,261,730 2.89% , , , , , , Totals 72,710,533 71,983,050 727,483 1.01%

Revenues

2014 Budget Summary g y 2014 2013 $ Diff % Diff Appropriations Salaries & Wages 28,623,600 28,002,100 621,500 2.22% Other Expenses 22,556,435 21,287,373 1,269,062 5.96% Statutory/Deferred 6,650,120 6,944,223 Grants 331,330 331,330 - 0.0% Capital Imp. F d C i lI Fund 725,000 725 000 725,000 725 000 - 0.0% 0 0% Debt Service 12,574,048 13,208,024 -294,103 -633,976 -4.24% -4.80%

2014 Budget Summary g y 2014 2013 $ Diff % Diff Appropriations A i i R.U.T. 1,250,000 1,485,000 Totals 72,710,533 71,983,050 Local Taxation Ratable Base Tax Rate -235,000 -15.8% 727,483 1.01% 1,261,730 2.89% 11,183,675,429 11,316,442,065 -132,766,636 -1.17% 44,934,394 40.18 43,672,664 38.60 1.579 4.09%

Appropriations

2014 Anticipated Revenues p 2013 Budget 2013 Realized 2014 Budget Licenses Li Fees & Permits Municipal Court l Int. & Costs on Taxes Parking Regulations Int. on Investments Beach Fees 410,000 410 000 875,000 785,000 245,000 2,800,000 8,000 3,950,000 449,018 449 018 1,044,662 632,572 337,203 2,786,354 5,445 3,901,460 430,000 430 000 950,000 630,000 255,000 2,785,000 5,000 3,900,000 Rent/Sale of Property 190,000 170,299 170,000 Airport Fees 145,000 139,847 135,000

2014 Anticipated Revenues p 2013 Budget 2013 Realized 2014 Budget Boat Ramp Fees 30,000 32,074 32,000 Aquatic & Fitness 1,000,000 1,064,289 1,025,000 Smoke Detectors 175,000 181,460 175,000 EMS 580,000 712,551 630,000 2,146,048 2,146,048 2,146,048 Construction Code 650,000 1,094,472 950,000 Upper Twp. Dispatch 222,789 222,789 222,789 Library- Contracted Services LibraryLib 209,019 209 019 209,019 209 019 222,323 222 323 State Aid

2014 Anticipated Revenues p 2013 Budget 2013 Realized 2014 Budget Library- Return to Taxpayer LibraryLib OCTD Staffing Grants G Hurricane Sandy Capital Funds d Capital Funds- Notes FundsTotal Local Revenues 2013 Excess Revenue Delinquent Taxes 1,140,951 1 140 951 25,000 284,603 284 603 842,000 600,000 3,124,325 20,437,735 1,140,951 1 140 951 25,000 284,603 284 603 842,000 600,000 3,124,325 21,146,447 708,712 1,593,766 1 593 766 25,000 284,603 284 603 418,500 300,000 3,124,325 20,409,354 950,000 1,110,747 750,000

2014 Increases in Revenues Amount to be raised by Taxation- City Taxation- $1,261,730 Misc. Revenues Anticipated $395,119 Fund Balance $300,000 Grants $0.00 State Aid $0.00 Amount to be raised by Taxation- Library Taxation- $-62,116 Receipts f R i from Delinquent Taxes D li T $-200 000 200,000 Sandy Anticipated Reimbursements $-125 250 125,250 Sandy Accelerated Reimbursements $-842,000 TOTAL BUDGET INCREASE $727,483

History of Fund Balance 2005 2006 2007 2008 2009 Balance 1/1/FY 4,989,423 4,732,441 5,481,815 5,340,221 4,803,672 Utilized in Budget g 3,430,000 3,185,000 3,200,000 2,390,004 2,067,000 Balance Remaining 1,559,423 1,547,441 2,281,815 2,950,217 2,736,672 % Used 68.75% 67.30% 58.37% 44.75% 43.03% % Remaining 31.25% 32.70% 41.63% 55.25% 56.97% Local Municipal Budgets % Remaining to Budget 51,791,085 52,621,283 56,306,981 60,097,230 62,054,416 3.01% 2.94% 4.05% 4.91% 4.41%

History of Fund Balance y 2010 2011 2012 2013 2014* Balance B l 1/1/FY 5,236,486 5 236 486 5,431,337 5 431 337 5,032,608 5 032 608 4,638,161 4 638 161 5,811,666 5 811 666 Utilized in Budget 2,327,075 2,550,000 2,500,000 3,043,750 2,800,000 Balance Remaining 2,909,411 2,881,339 2,532,608 1,594,411 3,011,666 % Used 44.44% 46.95% 49.68% 62.62% 48.18% % Remaining 55.56% 53.05% 50.32% 34.38% 51.82% Local Municipal Budgets 63,938,949 68,840,928 68,021,825 70,907,950 72,710,533 % Remaining to Budget B d 4.55% 4.19% 3.72% 2.25% 4.14% *Per AFS

History of Fund Balance y

Fund Balance Remaining g

How is Fund Balance Replenished? Collecting Revenues in excess of what is anticipated (MRA) Misc. Misc Revenues Not Anticipated (MRNA) Collecting Taxes in excess of the anticipated %, a.k.a. Reserve for Uncollected T k R f U ll d Taxes (RUT) Receipts from Delinquent Taxes (RDT’s) Expired Appropriations from 2012 Canceled Appropriations/Accounts from 2013

Why leave a Fund Balance Reserve? Stability of future operations and budgets y p g Fund Balance can be used to fund an unanticipated emergency A Reserve Provides Cash Flow for the Municipality Revenues are not collected consistently during the fiscal year Payrolls exceed $1 million every 2 weeks The Cit is the p i Th City i th paying agent for all outside agencies: t f ll t id i County, School, Library, SID’s Key indicator to bond rating agencies

Total 2013 Tax Rate- 84.2 Cents Rate-

What’s a Penny??? What s A penny to the Municipal tax rate is a fraction of the ratable base, in 2014 a penny to the O.C. tax ( ) rate = $1,118,000 (Ratable base is 11.18 billion) 1/10 of a penny = $111,800 ----------------------------------A penny to a taxpayer = $10 per $100,000 of property, or $50 for a $500,000 home The 2014 proposed local tax increase of 1.57 cents means a $78.50 increase to a $500,000 home

Ratable Trends & Tax Revenue Ratables R bl 3,660,499,421 97,676,092 72.9 2003* 7,411,270,164 129,800,600 41.2 2004 7,549,955,663 138,685,499 41.6 2005 Years Local T R L l Tax Rate 2002 *Revaluation Increase I 7,774,231,834 7 774 231 834 224,276,171 224 276 171 43.2 43 2 2006 8,014,307,303 240,075,469 44.4 2007 8,249,356,764 235,049,461 46.5 2008* 12,740,485,933 88,478,300 33.2 2009 12,820,330,392 79,844,459 34.9 2010 12,852,616,046 12 852 616 046 32,285,654 32 285 654 35.9 35 9 2011 12,852,929,492 313,446 33.8 2012* 12,171,789,847 -681,139,645 35.6 2013* 11,316,442,065 -855,347,782 38.6 2014* 11,183,675,429 -132,766,636 40.18

Ratable Changes $11,316,442,065 $11,183,675,429 $ - 132,766,636 2013 Ratable Base 2014 Ratable Base (Decrease in Ratables) $ - 15,521,600 , , $ - 183,623,201 $ - 15,267,536 5, 67,536 $ + 81,645,701 $ - 132 766 636 132,766,636 207 Tax Appeals from 2013 pp 2014 Compliance Plan (4,512) Demos/Misc. Adjustments e os/ sc. djust e ts Added Assessments

2014 Tax Rate Increase 2014 Proposed Budget 2014 “What if Budget What if” _ 44,934,394 44,934,394__ 11,183,675,429 44,934,394__ 44,934,394 11,316,442,065 = 40.18 cents = 39.71 cents Increase of 1.579 cents from 2013 Increase of 1.107 cents from 2013

Assessments & Your Taxes $500k House that stayed the same for 2014 $500k House with an average reduction for 2014 2013 $500,000 x 38.6 = $1,930 2013 $500,000 x 38.6 = $1,930 2014 $500,000 x 40.18 = $2,009 2014 $459,300 x 40.18 = $1,845 Increase of $79.00 Decrease of $-85.00 $-

Sandy s Budget Impact Sandy’s 2013 Budget $3,625,000 Emergency Authorized in late 2012, which must be p paid down over a maximum of 5 y years, or $725,000 per y p year $725,000 was budgeted on the expense side in 2013 $543,750 was budgeted as a revenue, taken out of fund balance ($725,000 x 75% = $543,750) The $543,750 was realized and replenished to fund balance in 2013, plus another $842,000 in FEMA reimbursements The remaining unspent balance of $198k in the emergency account was also canceled in 2013

Sandy s Budget Impact Sandy’s 2013 Budget $3,625,000 -725,000 -842,000 -198,000 $1,860,000 Original Emergency Authorization Statutory minimum pay down Accelerated FEMA reimbursements Canceled balance also used to pay down note Outstanding Emergency Note 12/31/13

Sandy s Budget Impact Sandy’s 2014 Budget $1,860,000 Outstanding Emergency Note 12/31/13 $ 465,000 Statutory minimum appropriation (1/4th of note) $ 418,500 Anticipated Revenue (90% of appropriation) $ 725,000 2013 Budget Appropriation $ 465,000 2014 Budget Appropriation $-260 000 Appropriation Reduction due to faster note pay down 260,000 A i i R d i d f d

Capital Budget Impact 2013 Budget $3,124,325 Was in the budget as Reserve for Debt Service/Payment of Notes….mostly made up of: $1,950,000 Final payment from the Library for the expansion $1,084,750 FEMA reimbursement to pay off Waverly Geotubes from the November 2009 Nor’easter These two items will not be in the 2014 budget, but are assumed at the moment for a more realistic comparison of the two budgets. By Introduction the 2014 budget will do down by approx. $3 mil.

2014 Local Municipal Budget End of Workshop #1

2014 Local Municipal Budget Workshop #2

2014 Increases in Expenses Health Insurance $915,000 Salaries & Wages $621,500 Debt Service $208,023 General Liability Insurance $152,650 Departmental Other Expenses $99,160 Citywide Expenses $83,050 Utilities $62,000 City Clerk Other Expense $57,100 $57 100 FICA/Unemployment $10,800 Grants - Capital Improvement Fund - Workers Compensation Insurance $-8,950 Trash/Tipping/Recycling $-28,832 Pensions $-44,903

2014 Increases in Expenses p Library Appropriation $-62,116 Reserve for Uncollected Taxes $-235,000 Hurricane Sandy Emergency $-260,000 260 000 Sandy Accelerated Note Pay Down $-842,000 TOTAL BUDGET INCREASE $727,483 $727 483

2014 Increases in Revenues Amount to be raised by Taxation- City Taxation- $1,261,730 Misc. Revenues Anticipated $395,119 Fund Balance $300,000 Grants $0.00 State Aid $0.00 Amount to be raised by Taxation- Library Taxation- $-62,116 Receipts f R i from Delinquent Taxes D li T $-200 000 200,000 Sandy Anticipated Reimbursements $-125 250 125,250 Sandy Accelerated Reimbursements $-842,000 TOTAL BUDGET INCREASE $727,483

History of Pension Costs 2003 2004 2005 PFRS ’08=100% 235,000 423,000 708,521 1,195,000 1,783,316 2,253,268 PERS ’08=80% 71,000 76,000 148,628 287,000 374,558 660,558 CPFRS 27,000 18,000 1,000 1,000 7,500 7,500 333,000 517,000 TOTALS VARIANCE 2006 2007 2008 857,150 1,483,000 2,165,374 2,921,326 +184,000 +340,150 +625,850 +682,374 +755,952 , , , , ,

History of Pensions 2009 PFRS 2010 2011 2012 2013 2014 2,552,644 2,633,413 2,941,637 2,695,260 2,921,058 2,825,014 Fully Funded In 2008 PERS 927,178 1,037,909 1,247,564 1,337,245 1,270,288 1,315,406 Fully Funded In 2009 CPFRS TOTALS Percent Variance 8,800 8,800 3,488,622 3,680,122 19.4% +567,296 +567 296 5.5% 8,800 9,645 8,977 - 4,198,001 4,042,150 4,200,323 4,140,420 14.1% +191,500 +517 879 +191 500 +517,879 -3.7% 3.7% -1.4% -155 884 +158,173 155,884 +158 173 -59 903 59,903

History of Health Insurance % Budget Increase % Expended Increase Budgeted Expended 2004 4,540,000 4 540 000 4,559,766 4 559 766 2005 5,045,000 4,409,018 11.1% -3.3% 2006 4,550,000 4,542,271 -9.8% 3.0% 2007 5,170,000 5,485,005 13.6% 20.75% 2008 6,019,200 6,009,843 16.4% 9.57% *2009 5,853,000 5,256,869 -2.76% -12.53% 2010 5,866,000 5,631,290 0.22% 7.12% 2011 6,115,000 6 115 000 5,903,994 5 903 994 4.2% 4 2% 4.8% 4 8% 2012 6,597,000 6,408,801 7.9% 8.6% *2013 6,125,000 , , 5,973,089 , , -7.15% -6.8% 2014 7,040,000 *City Changed Health Benefit Programs 14.94%

2013 Debt Service & Cap ta 0 3 ebt Se v ce Capital Bond Principal p Bond Interest Interest on Notes (BAN’s) Green Acres Trust Program TOTAL DEBT SERVICE 5% Down payment for Ordinances CIF Small Equipment Ordinance TOTAL CAPITAL IMPROVEMENT FUND $ , , $7,525,000 $1,827,550 $427,250 $54,822 $9,834,622 $600,000 $125,000 $725,000

Total Debt Service Annually Year 2008 2009 2010 2011 2012 2013 2014 Debt Service % Increase $7,125,000 4.2% $ , , $7,561,315 6.1% $7,812,967 3.3% $7,975,087 $7 975 087 2.1% 2 1% $8,320,220 4.3% $9,626,599 15.7% $9,834,622 , , 2.1% AVERAGE = 5.4%

History of Library Appropriation

History of Full Time Staffing 2003 2004 2005 2006 2007 2008 Administration 13 13 13 12 12 12 Community Services 30 27 27 26 25 16 Community Development 20 20 20 21 - - - - - - 26 25 Planning & Engineering Legal - Statutory Offices 11 10 10 10 10 10 Financial Management 16 16 15 15 16 15 Police Department 78 78 76 76 76 72 Fire & Rescue 66 66 66 66 66 64 Public Works 60 58 55 54 43 50 Grant Positions 3 3 3 3 - - 297 291 285 283 274 264 TOTAL

History of Full Time Staffing 2009 2010 2011 2012 2013 2014 Administration 12 12 15 15 16 20 Community S i C i Services 16 16 31 30 30 - Community Operations - - - - - 81 Planning & Engineering 25 24 - - - - - 1 1 1 1 1 Statutory Offices S Offi 10 10 10 10 10 9 Financial Management 15 14 14 13 13 12 p Police Department 72 72 71 72 71 70 Fire & Rescue 64 62 62 61 63 63 Public Works 50 50 46 50 50 - - - - - - - 264 261 250 252 254 256 Legal Grant Positions TOTAL

Department of Administration 2014 Budget reflects reorganization changes Engineering went to Community Operations New Division Public Relations & Information Includes the POPS Orchestra 20 Full Time Personnel 7,758 PPT Hours OE: up $19,910 $19 910 Includes offices of the Mayor, BA, HR, Purchasing, OEM Purchasing OEM, Capital Planning, IT, PR & Planning IT Information, Neighborhood & Social Services

Department of Community Operations 2014 Budget reflects reorganization changes g g g Engineering moved from Administration All of the former Public Works Department p All of the former Community Services Department except for Public Relations & Info, POPS, and p Neighborhood & Social Services 81 Full Time Personnel 56,858 PPT Hours (41,000 of which are at the A&F Center) OE: up $62,250 $62 250

Department of Community Operations Includes the Divisions of: Community Operations Administration Environmental Operations Facility Maintenance Field Operations Fleet Maintenance Aquatic & Fitness Center Recreation & Leisure Programs Music Pier Operations Planning, Zoning, Municipal Code & Licensing Construction Code Engineering & Project Management

Department of Law 2014 Budget is down $12,000 $12 000 1 Full Time Solicitor and 1 Part Time Prosecutor OE: down $13,000 from 2013 S&W: up $1,000

Department of Financial Management 2014 Budget is up $49,300 $49 300 12 Full Time Personnel, down 1 from 2013 17,076 1 0 6 PPT Hours H OE: up $40,300 (increased contributions to Museum & Arts Center) S&W: up $9,000 Includes Accounting & Payroll Tax Assessment Payroll, & Collection, Revenue Collection, Beach Fees, Parking and Airport

Statutory Offices y City Clerk 3 Full Time Personnel, same as 2013 F ll Personnel 1,040 PPT Hours OE: up $57,100 due to Municipal Election Year S&W: up $17,000 (currently overlap with pending retirement) Municipal Court 6 Full Time Personnel, down 1 from 2013 2,912 2 912 PPT Hours (increased due to FT reduction) H OE: up $1,000 S&W: down $70,000 $70 000

Department of Fire & Rescue Services 2013 Budget is up $21,500 $21 500 59 Full Time Firefighters, same as 2013 3 Full Time Rescue EMT’s, same as 2013 F ll Ti R EMT’ 1 Full Time Clerical, same as 2013 OE: up $25,500 S&W: down $4,000 $4 000 This budget includes Lifeguard Operations

Department of Police Protection 2014 Budget is down $32,300 $32 300 58 Full Time Officers, same as 2013 12 Full Time Civilians, down 1 from 2013 F ll Ti Ci ili d f 9,212 PPT Hours OE: down $39,300 (mostly due to replacing only ) 2 Police vehicles instead of 4) S&W: up $7,000

2014 Local Municipal Budget p g

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