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2. Financial Management Plan_Powerpoint 4-21-2021
• ✓ • ✓ • ✓ ✓ ✓ ✓ ✓ • ✓ ✓ • ✓ ✓ • ✓ ✓ • ✓ ✓ • • • ✓ • ✓ • ✓ ✓ • ✓ ✓ • • ✓ ✓ ➢ ➢ ✓ ✓ • ➢ o o ➢ ➢ o o Actual Adopted Adopted GENERAL FUND 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Ending General Fund Balance (FB)1,715,008 1,643,215 1,267,024 1,530,776 1,227,994 1,227,994 1,227,994 1,227,994 1,227,994 1,277,994 Fund Balance as a % of Next Year's Expenditures 61.8%86.1%67.6%65.6%63.7%61.9%60.1%60.7% General Fund Operating Tax Levy 1,545,600 1,349,820 1,342,592 1,484,700 1,381,700 1,537,953 1,586,965 1,637,504 1,689,616 1,793,349 Annual Increase -12.7%-0.5%10.6%-6.9%11.3%3.2%3.2%3.2%6.1% Existing debt service levy 116,739 152,202 501,350 498,730 445,585 445,055 406,536 345,634 343,166 340,541 Park Improvement 30,000 10,000 20,000 30,000 30,000 80,000 80,000 Equipment Replacement 30,000 30,000 30,000 130,000 250,000 300,000 70,000 70,000 70,000 Local Road Improvement 560,533 725,050 378,930 381,516 438,539 350,000 600,000 700,000 900,000 1,000,000 General Capital Improvement 30,000 100,000 350,000 350,000 350,000 125,000 125,000 EDA 5,000 800 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 - Total Other Special Levies 712,272 908,052 915,280 945,246 1,129,124 1,420,055 1,691,536 1,500,634 1,523,166 1,620,541 Total Tax Levy 2,257,872 2,257,872 2,257,872 2,429,946 2,510,824 2,958,008 3,278,501 3,138,138 3,212,782 3,413,890 Tax Rate on Tax Capacity 36.594%35.058%32.396%31.466%30.815%35.213%37.477%34.996%35.278%36.836% Tax Rate % Change -4.20%-7.59%-2.87%-2.07%14.27%6.43%-6.62%0.81%4.42% City Taxes on Median Value Residential Homestead 1,050 1,022 1,049 1,137 1,150 1,372 1,524 1,454 1,495 1,592 $ Tax Increase/(Decrease)(28)$ 27$ 87$ 13$ 222$ 152$ (70)$ 41$ 97$ Projected Actual Adopted Adopted GENERAL FUND 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Ending General Fund Balance (FB)1,715,008 1,643,215 1,267,024 1,530,776 1,227,994 1,227,994 1,227,994 1,227,994 1,227,994 1,277,994 Fund Balance as a % of Next Year's Expenditures 61.8%86.1%67.6%65.6%63.7%61.9%60.1%60.7% General Fund Operating Tax Levy 1,545,600 1,349,820 1,342,592 1,484,700 1,381,700 1,537,953 1,586,965 1,637,504 1,689,616 1,793,349 Annual Increase -12.7%-0.5%10.6%-6.9%11.3%3.2%3.2%3.2%6.1% Existing debt service levy 116,739 152,202 501,350 498,730 445,585 445,055 406,536 345,634 343,166 340,541 Local road improvement debt levy - - - - 59,370 156,120 Capital improvement debt levy - - - - 83,557 83,557 Park Improvement 30,000 10,000 20,000 40,000 60,000 70,000 70,000 Equipment Replacement 30,000 30,000 30,000 130,000 30,000 50,000 75,000 115,000 100,000 Local Road Improvement 560,533 725,050 378,930 381,516 438,539 350,000 350,000 400,000 300,000 200,000 General Capital Improvement 30,000 100,000 175,000 175,000 150,000 85,000 85,000 EDA 5,000 800 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 - Total Other Special Levies 712,272 908,052 915,280 945,246 1,129,124 1,025,055 1,026,536 1,035,634 1,061,093 1,040,218 Total Tax Levy 2,257,872 2,257,872 2,257,872 2,429,946 2,510,824 2,563,008 2,613,501 2,673,138 2,750,709 2,833,568 Increase/(Decrease) in Total Tax Levy 0.00%0.00%7.62%3.33%2.08%1.97%2.28%2.90%3.01% Tax Rate on Tax Capacity 36.594%35.058%32.396%31.466%30.815%30.310%29.770%29.909%30.207%30.533% Tax Rate % Change -4.20%-7.59%-2.87%-2.07%-1.64%-1.78%0.47%0.99%1.08% City Taxes on Median Value Residential Homestead 1,050 1,022 1,049 1,137 1,150 1,181 1,211 1,242 1,280 1,320 $ Tax Increase/(Decrease)(28)$ 27$ 87$ 13$ 31$ 30$ 32$ 37$ 40$ Projected • Grand 2021 2022 2023 2024 2025 2026 Total Local Road Improvement - - - - 675,000 1,100,000 1,775,000 Park Capital - - - - - - Capital Improvement - - - 950,000 - - 950,000 Equipment Replacement - - 815,000 - - - 815,000 Total - - 815,000 950,000 675,000 1,100,000 3,540,000 Gand 2021 2022 2023 2024 2025 2026 Total Local Road Improvement 915,000 624,000 938,829 736,786 1,055,212 1,332,235 5,602,062 Park Capital 40,585 60,408 62,192 89,989 93,589 73,000 Capital Improvement 350,000 733,200 438,048 1,226,664 40,945 0 2,788,857 Equipment Replacement 52,500 302,640 574,330 67,492 0 0 996,961 Total 1,358,085 1,720,248 2,013,398 2,120,931 1,189,746 1,405,234 9,807,644 Bonding Summary Capital Outlay Summary Actual Adopted Adopted GENERAL FUND 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Ending General Fund Balance (FB)1,715,008 1,643,215 1,267,024 1,530,776 1,227,994 1,227,994 1,227,994 1,227,994 1,227,994 1,277,994 Fund Balance as a % of Next Year's Expenditures 61.8%86.1%67.6%65.6%63.7%61.9%60.1%60.7% General Fund Operating Tax Levy 1,545,600 1,349,820 1,342,592 1,484,700 1,381,700 1,537,953 1,586,965 1,637,504 1,689,616 1,793,349 Annual Increase -12.7%-0.5%10.6%-6.9%11.3%3.2%3.2%3.2%6.1% Total Debt Service 116,739 152,202 501,350 498,730 445,585 445,055 406,536 345,634 343,166 340,541 Park Improvement 30,000 10,000 20,000 30,000 30,000 80,000 80,000 Equipment Replacement 30,000 30,000 30,000 130,000 30,000 40,000 40,000 75,000 75,000 Local Road Improvement 560,533 725,050 378,930 381,516 438,539 210,000 165,000 70,000 - 30,000 General Capital Improvement 30,000 100,000 250,000 250,000 350,000 285,000 150,000 EDA 5,000 800 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 - Total Other Special Levies 712,272 908,052 915,280 945,246 1,129,124 960,055 896,536 840,634 788,166 680,541 Total Tax Levy 2,257,872 2,257,872 2,257,872 2,429,946 2,510,824 2,498,008 2,483,501 2,478,138 2,477,782 2,473,890 Increase/(Decrease) in Total Tax Levy 0.00%0.00%7.62%3.33%-0.51%-0.58%-0.22%-0.01%-0.16% Tax Rate on Tax Capacity 36.594%35.058%32.396%31.466%30.815%29.503%28.257%27.697%27.175%26.622% Tax Rate % Change -4.20%-7.59%-2.87%-2.07%-4.26%-4.22%-1.98%-1.88%-2.04% City Taxes on Median Value Residential Homestead 1,050 1,022 1,049 1,137 1,150 1,149 1,149 1,151 1,151 1,151 $ Tax Increase/(Decrease)(28)$ 27$ 87$ 13$ (0)$ (0)$ 1$ 1$ (1)$ Projected Capital Improvements 2021 - 2026 Amount in Plan Parks - Playground equipment, trails $326,000 Roads - Sealcoating and road improvements $5,035,000 General - Broadband, community center upgrade, various public building maintenance $2,335,500 Equipment - Vehicle replacements $934,500 Total $8,631,000 • • • • ✓ ✓ • ✓ ✓ • • ✓ ✓ • • ✓ ✓ ✓ ✓ • ✓ ✓ ➢ ➢ – • •