2013 Financial Plan Public Hearing — Brandon

7/29/2019 2013 Financial Plan Public Hearing Brandon

1/22

CITY OF BRANDON2013 FINANCIAL PLAN

PUBLIC HEARING

March 18, 2013

Dean Hammond, CMA

Treasurer & General Manager of Corporate Services


2/22

AGENDA

2013 Operating Revenues / Expenditures

2013 Capital Expenditures

Debt Position & Debt Ratios

Reserves

Residential Tax Impact

Commercial Tax Impact

Next Steps


3/22

PROPOSED OPERATING / UTILITIES

BUDGETS

General Revenues / Expenditures $74.3mm *

Utilities Revenues / Expenditures $18.1mm *

Total Budget $92.4mm *

* before transfers

0.98% Mill Rate Increase From 2012


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REVENUES - $74.3mm

53.0%

13.4%

11.8%

10.4%

7.3%4.1%

Property Taxes

Conditional Government

Transfers

Unconditional Government

Transfers

User Fees and Sales of

Goods

Other Income

Permits, Licenses and Fines


5/22

EXPENSES - $74.3mm

34.7%

26.5%

10.9%

9.9%

6.6%

5.8%5.5%

Protective Services

Infrastructure

Support Services

Recreation, Culture,

Parks, & Youth

Transit

Sanitation &

Environment

Growth, Economic

Development, &Affordable Housing


6/22

32.2%

24.3%

12.8%

9.8%

6.8% 6.4%7.7%

34.7%

26.5%

10.9%9.9%

6.6%5.8%

5.5%

0%

5%

10%

15%

20%

25%

30%

35%

40%

Protective

Services

Infrastructure Support

Services

Recreation,

Culture, Parks,

& Youth

Transit Sanitation &

Environment

Growth,

Economic

Development,

& AffordableHousing

2012 2013

Spend Comparison 2012 vs. 2013


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2013 CAPITAL EXPENDITURES

2013 Capital Spending $36.9mm

Source of Funding:General Fund $300k

Utility Fund $500k

General Reserves $16.5mm

Utility Reserves $3.7mm

Borrowings $15.9mm

$36.9mm


8/22


(Reserve Funded)

Total Reserve Funded Expenditures $16.5mm

Centennial Auditorium Upgrades $92kFuel Tank Replacement $350k

Diking Upgrades Pre-Work $975k

Fleet Equipment Replacements $6.2mm

17th St. East Intersection Improvements $4.0mm

Other Street Work $1.6mm

Rideau Park Recreation Hub $700k


9/22


(Reserve Funded), Continued

Other Park Upgrades $200k

Police Equipment $550k

Police Vehicles $400kRec Centre & Sportsplex Upgrades $500k

Drainage Master Plan $250k

8th Street Bridge Design Study $100k

Airport Development Plan $120k


10/22


(Utility Reserve Funded)

Total Utility Reserve Funded Expenditures $3.7mm

3

rd

Street Dam Replacement $1.3mmWTF Emergency Water Supply $700k

Industrial Wastewater Upgrades $1.5mm

Sewer Camera Mobile Unit $100k


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(Borne by General Fund)

Total General Fund Expenditures $300k

Walkways & Trails Expansion/Reconstruction $200kAdditional Community Alerting Siren $40k

Parks Equipment & Upgrades $60k


12/22


(Borne by Utility Fund)

Total Utility Funded Expenditures $500k

Watermain Replacements $300kWater Treatment Facility Master Plan $200k


13/22


(Debt Funded)

Total Debt Funded Expenditures $15.9mm

Industrial Wastewater Facility Project $10.0mmContribution to Keystone Improvements $1.1mm

638 Princess Building Refit $3.0mm

South East Land Drainage Improvements $1.8mm


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2013 Debt Position

Total Operating / Capital Debt $31.3mm

Total Utility Debt $3.6mm

Total Debt Position $34.9mm

* Total Debt has dropped ~$600k from 2012

2013 Principal Payments $1.8mm

2013 Interest Payments $1.7mm

Total 2013 Debt Payments $3.5mm

22%


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1.8%

3.1%

7.0%

20.0%

0%

1%

2%

3%

4%5%

6%

7%

8%

9%

10%11%

12%

13%

14%

15%

16%

17%

18%

19%

20%

21%

22%

Debt / Assessment Debt Service Costs / City Revenues

%

2013 Debt Position

Actual City Debt Ratio

Maximum Allowable Debt Ratio


16/22

2013 RESERVES

2013 Transfers to Reserves $10.2mm


17/22

RESIDENTIAL TAX IMPACT

2012 2013 $ Change % Change

Assessed Value 200,000$ 200,000$ -$ 0%

Portioned Value @ 45% 90,000$ 90,000$ -$ 0%

Mill Rate (per $1,000) 19.07 19.257 0.98%

Municipal Tax Levy 1,716.30$ 1,733.13$ 16.83$ 0.98%


18/22

RESIDENTIAL TAX IMPACT

In 2013, if Your Home is Assessed at 200,000$

You Would Pay Municipal Tax of 1,733.13$

You Would Pay School Division Tax of 1,492.07$

You Would Receive a Home Owner Grant of (700.00)$ *

For a Total Tax Payable of 2,525.20$

And Your $1,733 in Municipal Taxes Would Go Towards

Protective Services 600.71$ 34.7%

Infrastructure 459.49$ 26.5%

Support Services 189.02$ 10.9%

Recreation, Culture, Parks, & Youth 172.00$ 9.9%Transit 114.74$ 6.6%

Sanitation & Environment 100.99$ 5.8%

Growth, Economic Development, & Affordable Housing 96.17$ 5.5%

1,733.13$ 100.0%

* If You Are the Principle Resident


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COMMERCIAL TAX IMPACT

2012 2013 $ Change % Change

Assessed Value 500,000$ 500,000$ -$ 0%

Portioned Value @ 65% 325,000$ 325,000$ -$ 0%

Mill Rate (per $1,000) 19.07 19.257 0.98%

Municipal Tax Levy 6,197.75$ 6,258.53$ 60.78$ 0.98%


20/22

COMMERCIAL TAX IMPACT

In 2013, if Your Business is Assessed at 500,000$

You Would Pay Municipal Tax of 6,258.53$

You Would Pay School Division Tax of 5,388.03$

You Would Pay a Provincial School Education Levy of 3,844.75$

For a Total Tax Payable of 15,491.31$

And Your $6,259 in Municipal Taxes Would Go Towards

Protective Services 2,169.25$ 34.7%

Infrastructure 1,659.28$ 26.5%

Support Services 682.58$ 10.9%

Recreation, Culture, Parks, & Youth 621.11$ 9.9%Transit 414.35$ 6.6%

Sanitation & Environment 364.68$ 5.8%

Growth, Economic Development, & Affordable Housing 347.27$ 5.5%

6,258.53$ 100.0%


21/22

NEXT STEPS

Final Public Hearing / Adoption of

Financial Plan March 18th

1st Reading of Tax Levy By-law April 2nd

2nd & 3rd Readings of Tax Levy By-law

April 15th


22/22

Questions?

2013 Financial Plan Public Hearing — Brandon

Documents

Transcript of 2013 Financial Plan Public Hearing — Brandon