Budget Highlights $ 87.1 million

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Budget Highlights

$ 87.1 million

Fiscal Year 2013/14

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“Stays the course” and “follows the financial plan”

we established several years ago and continues our history of:

Maintaining healthy cash reserves Significant levy growth available under

$8.10 and ability to implement benefit levies.

Conservative spending Stable revenue streams Strong fiscal planning and adherence to

fiscal policies

FY 2013/14 Budget

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1) We continue to recognize the need for human resources and operating budgets to grow as the city grows. However, we remain committed to our history of efficiency, conservative spending and being fiscally responsible.

Operating budgets reflect marginal increases

Vacant positions are thoroughly reviewed in an effort to downsize, through restructuring and realignment of duties where possible.

Under utilized and/or outdated programs and services are reviewed for funding in the budget each year.

In an effort to continue offering Premier Services to our Citizens, we seek balance in three key areas:

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2) We’ve continued to fund an aggressive CIP program to maintain/upgrade our existing infrastructure and support our growing community with quality amenities.

We recognize the corresponding cost and are aware that we have a higher debt levy rate and debt margin ratio than many comparable cities.

We also recognize the flexibility available to the City in reducing the debt levy and corresponding CIP projects if needed to balance future operating budgets.


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3) We remain committed to making difficult decisions of increasing revenues through taxes and user fees “incrementally”, if needed, to balance our budgets annually as our costs increase.

In FY 12/13 the City’s overall cost of services including property taxes, sewer and storm water fees and solid waste fees ranks 3rd lowest among 30 Iowa cities with populations of 10,000 or more.

We do not endorse deferring or holding off on raising fees and taxes only to later having to “spike” the rates to balance the budget.


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1) Continuing our conservative spending:

The FY 13/14 budget addresses six major issues that reduced revenue or increased expenditures

We recommend an especially conservative approach in light of the proposed commercial property tax rollback and capping of future growth of property tax revenue across all property classes.

We have reconciled all funds with the exception of the General Fund $155,623 shortfall

Review of all open positions Further reduction of operating budgets Increase in the levy rate Draw down the General Fund balance

We recommend balance within these three key areas in FY 13/14 by:

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2) Funding Aggressive CIP Program previously discussed:

Supports our growing community’s infrastructure needs (New and existing Roads, Storm water improvements, Sewer

expansion)

Maintains and enhances our City’s Cultural and Recreation amenities (FMAS, Library, Parks, Recreation Trails, Golf improvements etc.)

Impact: Maintains Debt Levy Rate at $5.00 per $1,000 assessed taxable

valuation

The proposed Debt Margin Ratio is approximately 76% for FY 13/14


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3) Lastly, continuing our practice of “raising revenues incrementally” as planned during the last several years:

User Fees: Recommend planned incremental increases in several Enterprise Funds’ user

fees: 3% Garbage, $0.20 Sewer, $0.35 Storm water . The increased user fees will continue to

allow those operations to be self-sufficient and are primarily project driven.

Property Taxes: We do recommend MAINTAINING the current levy rate at $12.55 However, despite maintaining the levy rate, taxes on residential property will

increase: 4.07% increase in the rollback on residential property (50.75% to 52.82%); and 1.8% average increase in assessed valuations city wide.

Maintaining the levy rate will allow the City to benefit from $890,241 of additional taxes needed to support current City operations.

Bettendorf continues to realize Excellent Growth in our tax base which allows greater flexibility for budget priorities. Gross values increased

$51.2M.


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Source FY 12/13 FY 13/14 Percent changeProperty taxes 22,107,379$ 22,997,618$ 4.03%TIF revenues 2,105,610$ 2,078,304$ -1.30%Other city taxes 8,164,850$ 8,370,792$ 2.52%Licenses & permits 737,310$ 684,310$ -7.19%Use of money 536,324$ 520,419$ -2.97%Intergovernmental 5,893,991$ 5,478,289$ -7.05%Charges for services 11,068,606$ 11,554,224$ 4.39%Special assessments 22,667$ 18,167$ -19.85%Miscellaneous 2,098,624$ 1,970,928$ -6.08%Bond proceeds 10,750,000$ 10,520,000$ -2.14%Other financing sources 1,432,786$ 731,000$ -48.98%Total net of transfers & Internal Service Funds 64,918,147$ 64,924,051$ 0.01%Transfers in 8,369,301$ 8,320,940$ -0.58%Internal Service Funds 6,780,934$ 7,339,383$ 0.00%Total Budget 80,068,382$ 80,584,374$ 0.64%

Where the money comes from FY 13/14Net of transfers & Internal Service Funds

Property taxes31%

TIF revenues3.20%

Other city taxes12.89%

Licenses & permits1.05%

Use of money0.80%

Intergovernmental8.44%

Charges for services17.80%

Special assessments0.03%

Miscellaneous3.04%

Bond proceeds16.20%

Other financing sources1.13%

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Category FY 12/13 FY 13/14 Percent changePublic Safety 10,133,198 10,768,394 6.27%Public Works 3,275,404 3,271,250 -0.13%Debt Service 13,956,647 12,619,977 -9.58%Culture & Recreation 4,224,632 4,424,778 4.74%Community & Economic Development 2,267,377 1,829,431 -19.32%General Government 3,752,552 3,787,301 0.93%Capital Projects 16,639,268 16,678,742 0.24%Business Type/Enterprises 17,595,063 17,982,506 2.20%Total net of transfers & Internal Service Funds 71,844,141 71,362,379 -0.67%Transfers out 8,369,301 8,320,940 -0.58%Internal Service Funds 6,796,178 7,372,252 8.48%Total Budget 87,009,620 87,055,571 0.05%

Where the money goes FY 13/14Net of transfers & Internal Service Funds

Public Safety15.09%Public Works

4.58%

Debt Service17.68%

Culture & Recreation

6.20%

Community & Economic Devel-opment2.56%

General Government5.31%

Capital Projects23.37%

Business Type32.82%

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Budget Highlights - FY 2013/14 Budget:

Bettendorf is one of a few Iowa cities with a General Fund levy below $8.10. This allows a 7% growth equating to $989,608 of potential property taxes.

Bettendorf also has capacity within the “amount necessary” levies, which if implemented equates to another $4.7 million in taxes.• Police & Fire Retirement• FICA & IPERS• Other Employee Benefits

(Health Insurance)• Liability Insurance

FY 12/13 FY 13/14

General Fund $7.55 $7.55

Health Insurance 0 0

Liability Insurance 0 0

Police & Fire Pension 0 0

Debt Service $5.00 $5.00

Levy Rate $12.55 $12.55

1) Maintain the City’s Levy Rate at $12.55

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Annual Property Tax Impact ofMaintaining the $12.55 Levy:

Residential (Rollback increased to 52.8%) Impact

$100,000 Assessed Value +$25.91 ($2.16 per month)

$162,235 Assessed Value (Median) +$42.04 ($3.50 per month)

$250,000 Assessed Value +$64.78 ($5.40 per month)

Commercial (Rollback remains 100%) Impact

Any Assessed Value $0.00 (-$0.00 per month)

Despite maintaining the levy rate, taxes on residential property will increase due to: 4.07% increase in the state mandated rollback on residential

property (50.76% to 52.82%) 4.91% average increase in residential assessed valuations city wide

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Taxes Current YearHow We Compare to Other Cities?In order by Levy Rate of all Iowa cities with populations over 20,000, plus Clive

CensusTaxable Value for

FY 12/13Taxable Value

per CapitaFY 12/13

Total Levy

FY 12/13 General

Fund LevyUrbandale 39,463 2,257,642,565$ 57,209$ 9.62$ 7.17$ Clive 15,447 1,130,282,183$ 73,172$ 9.99$ 7.17$ Ames 58,965 2,239,846,934$ 37,986$ 10.72$ 5.83$ Dubuque 57,637 2,108,760,803$ 36,587$ 10.78$ 8.10$ Ankeny 45,582 2,077,447,740$ 45,576$ 12.03$ 7.03$ West Des Moines 56,609 3,760,753,897$ 66,434$ 12.05$ 8.10$ Cedar Falls 39,260 1,401,199,407$ 35,690$ 12.20$ 8.10$ Bettendorf 33,217 1,788,749,827$ 53,850$ 12.55$ 7.55$ Mason City 28,079 1,008,218,704$ 35,907$ 13.55$ 8.10$ Marion 34,768 1,227,370,278$ 35,302$ 13.62$ 8.10$ Marshalltown 27,552 775,799,102$ 28,158$ 14.28$ 8.10$ Burlington 25,663 656,332,652$ 25,575$ 15.06$ 8.10$ Cedar Rapids 126,326 5,687,145,890$ 45,020$ 15.22$ 8.10$ Clinton 26,885 943,456,170$ 35,092$ 15.33$ 8.10$ Muscatine 22,886 781,443,576$ 34,145$ 15.67$ 8.10$ Sioux City 82,684 2,318,091,866$ 28,036$ 15.99$ 8.10$ Davenport 99,685 3,947,966,201$ 39,604$ 16.78$ 8.10$ Des Moines 203,433 6,440,220,679$ 31,658$ 16.92$ 8.10$ Iowa City 67,862 2,946,951,863$ 43,426$ 17.27$ 8.10$ Council Bluffs 62,230 2,349,585,815$ 37,756$ 17.85$ 8.10$ Waterloo 68,406 2,290,335,896$ 33,482$ 18.21$ 8.10$ Fort Dodge 25,206 624,130,482$ 24,761$ 19.93$ 8.10$ Ottumwa 25,023 622,356,319$ 24,871$ 20.34$ 8.10$ Average of 23 Cities 55,342 2,147,134,298$ 39,535$ 14.61$ 7.85$ *Source: Iowa Department of Management - Local Budget Division

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2. Provides funding for most existing City services: Maintains stable operating budgets. Largest increases

resulting from Employee Health Insurance, Risk Management, Police & Fire pension, IPERS and fuel related costs. Continues close monitoring of over-time

Funds Road Salt budget and liquid application program at $500,000

Funds a program to begin Emerald Ash Borer treatment on city properties.

Funds wage increases for all union and non-union employees Elimination of the administration of the Section 8 program Reduction/Elimination of the Transit Loop service

(Federal grant ends 6/30/13)

FY 2013/14 Budget Highlights

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FY 2013/14 Budget HighlightsMajor Budget Issues General

FundOther Funds

Total City-wide

Risk Management 12,888 80,369 93,257

Health Benefit 210,150 234,579 444,729MFPRSI (26.12% to 30.12%) 211,735 0 211,735

IPERS (8.67% to 8.93%) 15,904 9,871 25,775Wage Increases (Union Contracts, COLA, Deferred, Merit, Steps & Contracted Employees)

320,058 70,973 391,031

Condo & Coop Reclassification 112,039

TOTAL $770,735 $395,792 $1,278,566

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Bargaining Unit FY 10/11 FY 11/12 FY 12/13 FY 13/14

Fire 0% COLA 2% Deferred

1.50% COLA 7/1/11

1.50% Deferred 1/1/12

2.75% COLA2.90% COLA (plus 1% if pension is <35.32%)

Police 2% COLA 2.35% COLA.50% Deferred

3% COLA.25%

Deferred

2.75% COLA.75%

DeferredAFSCME - General 2% COLA 3% COLA 3.25% COLA 3.50% COLA

AFSCME -

Library2% COLA 3% COLA 3.25% COLA 3.50% COLA

Non-Union

Employees

2% COLA 3% COLA 3.25% COLA 3.50% COLA

Union SettlementsFunds final year of four year contracts with all of our bargaining units

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FY 2013/14 Budget Highlights:3) Projects Major Revenues to remain Stable

Revenue source:FY 09/10 Actual

FY 10/11 Actual

FY 11/12 Actual

FY 12/13 Estimate

FY 13/14 Budget

Property taxes 19,267,371 19,829,519 20,786,732 22,107,379 22,997,618

Charges for Services 14,460,857 15,468,962 16,525,874 17,760,533 18,808,207

Local Option Sales Tax 4,123,192 4,379,062 4,584,685 4,636,467 4,821,925

Road Use Tax 2,724,484 2,981,875 3,124,925 3,209,000 3,290,000

Gaming 1,684,304 1,658,400 1,608,845 1,600,000 1,624,000

Interest Earnings 935,570 583,842 604,865 576,924 559,819

Hotel/Motel Tax 781,543 803,119 738,376 805,000 805,000

Building Permits 547,500 503,290 558,417 631,000 578,000

Utility Tax 755,748 707,752 748,281 741,083 737,567

Cable Franchise 374,172 379,885 374,108 375,000 375,000

Total Major Revenues 49,043,048 50,695,706 53,055,108 55,842,386 57,997,136

Total All Revenues Net of Bond Proceeds, Other Financing Sources and Intergovernmental 51,498,057 52,901,996 54,149,370 56,824,169 58,824,145

10 Major Revenues as a % of All Revenues 95.23% 95.83% 97.98% 98.27% 98.59%

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Building Permit HistoryYear Number Value Number Value2012 3,416 $69,120,944 (a)(b) 145 $36,595,1052011 3,294 $81,802,346 108 $34,107,9432010 2,951 $58,148,406 115 $28,361,9802009 2,700 $58,504,974 77 $21,057,1982008 3,095 $43,946,075 96 $24,200,9962007 3,420 $78,686,737 134 $37,831,5732006 3,680 $100,236,047 154 $34,873,9282005 3,717 $66,134,674 194 $41,928,3192004 3,397 $68,651,169 146 $30,265,1512003 3,247 $57,729,471 120 $25,087,0802002 2,980 $71,998,617 85 $19,495,4812001 3,392 $40,678,917 144 $26,184,0822000 3,487 $45,339,525 143 $24,158,5461999 3,740 $44,998,573 158 $26,947,091

(a) Commercial permits in 2012 included: DHCU Credit Union, 3230 Ridge Pointe; Office addition, 3275-3289 Utica Ridge Rd.; Plantation Development, 872-884 Tanglefoot Ln.; Ascentra Credit Union, 2339 53rd Ave;Charles A Ruhl/Russell Construction, 3252-3264 Ridge Pointe.

(b) Taxes on value of permits issued in 2012 w ill be collectible in FY 14/15.

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FY 2013/14 Budget Highlights:4) All Major Fund Balances to remain stable

FundFY 09/10 Actual

FY 10/11 Actual

FY 11/12 Actual

FY 12/13 Projected

FY 13/14 Projected

General 5,267,035 5,358,631 5,514,282 5,514,282 5,358,659

% of expenditures 26.09% 26.49% 26.72% 24.59% 23.27%

Road Use 365,996 382,553 575,172 588,678 643,573

% of expenditures 10.87% 10.57% 17.67% 18.14% 19.80%

Gaming 681,544 85,692 98,214 57,476 121,108

Sales Tax 638,608 923,114 506,598 351,573 201,345

Vehicle 726,276 885,395 731,604 806,402 901,656

Electronic Equipment 769,568 675,351 502,844 415,604 381,559

Health Insurance 987,458 948,792 984,971 984,971 984,971

Risk Management 627,788 630,737 647,205 663,890 663,890

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5) Health Insurance – Recommend renewal with Wellmark with 11%

increase in “total projected maximum costs” vs. 7.5-10% national

History of health claims: 8 year average increase 9.68% (National average 7.5-10%)

Maintain Specific Stop Loss at $70K Ample cash reserves in excess of $1 million are

available to fund claims up to maximum aggregate attachment point (125% of expected claims)

Health Committee continues to meet regularly to monitor our existing health care plan

FY 2013/14 Budget Highlights:

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6) Liability Insurance – Total Liability Insurance up $93,257 or 13.56%.

Workers Compensation Fees up: $80,887 or 19.92%

Mod rate 1.05 due to Actual Losses exceeding Expected losses in one of the last three years with a “good” year dropping off

Striving to manage our Work Comp insurance costs although…..

Continue to have increased wages Average 10% State of Iowa published rate increases on

various job classifications expected.

FY 2012/13 Budget Highlights:

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$1.565 million allocated to supplement operating budgets for:

Enterprise Funds - $1,094,750 up $51,602 from $1,043,148 current year

Economic Development - $215,618 Downtown Improvements - $100,000 General Fund – City Beautification $95,000, July 4th

$30,000 & Emerald Ash Borer treatment $30,000

If not for Gaming Revenue, user fees would be significantly higher or property taxes would be needed to supplement budgets.

FY 2013/14 Budget Highlights: 7) Gaming Revenue - $1.670 million

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$1.5 million

18th St. Maplecrest to Echodale, Spruce Hills to Tech Dr., Avalon to Spruce Hills

$1.3 million

3rd phase of Tanglefoot, Greenbrier to Utica Ridge 3 lanes, separated trail

$1 million

1st phase of Hopewell Ave paving, Middle to east line of Century Heights to 18th addition

$500,000 Utica Ridge Road: Spruce Hills to Tanglefoot Lane – 5 Lane

$1.57 million

Various separated trails: Middle Rd. from Devils Glen to Duck Creek; Devils Glen Rd. from Middle Rd. to Crow Creek Park

$750,000 Sealcoat Reconstruction Program – Including 26th St.$1.1 million Forest Grove Rd. paving – 3 lanes, rec trail

$510,000 Street Resurfacing Program$1.12 million Street Reconstruction Program

$190,000 Bridge Maintenance Program$555,000 Sidewalk Program$370,000 Various Community & Economic Development projects

8) Community Improvement Program 2013 Construction Season: $15.4 million

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Community Improvement Program 2013 Construction Season: $15.4 million

$700,000 Forest Grove Park Development$625,000 Full Depth Patching Program

$300,000 Recreation Trails along Crow Creek from Devils Glen to Field Sike

$260,000 Annual funding for Parks projects$267,000 Various Traffic projects$635,000 Alley Rehabilitation Program$250,000 I-80 water main extension$275,000 Miscellaneous Public Works projects$150,000 Rural Road Sealcoating Program

$850,000 Downtown Improvements, Façade program and I-74 relocation program

$515,000 Various city-wide projects including Library space remodel

$100,000 Pavement Preservation Program$25,000 Curb & Gutter Replacement Program$15,000 Pavement Management Program

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Enterprise Fund Projects: $130,800

Community Improvement Program continued

Palmer Hills Golf Course

Tee box & sand trap Improvements $20,000

Family MuseumLED Lighting Replacement in Great Hall

$20,800

Life Fitness Center Tennis court resurfacing and gym floor repair $90,000

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Capital Equipment Requests FY 13/14 Budget funds $1,208,323 of new/replacement

vehicles

Funds $147,600 of new/replacement electronic equipment

Funds $278,000 of new/replacement capital equipment ($140,000 at QCWCC)

$147,000 Police: 4 detective vehicles, 1 crime scene van$32,000 Community Development: Pick-up with utility box$409,246 Public Works: 2 ¾ ton pick-ups, 2 1-ton pick-ups, 2

single axle dump trucks$115,000 Parks: Utility Cart, 10’ mower, zero turn mower$370,077 Storm Water: Sewer Vaccon, ¾ ton pick-up$135,000 Solid Waste: Rear load garbage packer

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Solid Waste 3% effective 4/1/13

Storm Water $0.35 per ERU/mo effective 4/1/13

Sewer $0.20 per 100 cubic feet of flow effective 4/1/13

LFC Personal training fees increased 1/1/13 (PB Resolution 61-12)

Palmer Hills G.C.

$1 increase to 18 hole rounds, junior rounds, 18 hole carts, small range baskets, junior senior range baskets & introduction of season passes (PB Resolution 53-12)

Splash Landing

Introduction of $25 concession area rental fee (PB Resolution 62-12)

Recreation$10 increase to adult softball teams & youth flag football, $5 increase to sports & games camp, $2.50 increase to Tot Lot (PB Resolution 57-12)

Family Museum

No fee increase. Fee structures will be examined in January, 2014.

Transit No fee increase.

FY 2013/14 Budget Highlights:9) User Fees - Continue to adjust user fees, when appropriate, to offset increases in the cost of programs.

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Proposed Solid Waste Fee Increase 3%

Continue 3% increases each April 1 to balance revenues and expenditures – BREAKEVEN

With the implementation of single stream recycling carts and trucks, 4% increases may be needed beginning 4/1/16.

City of BettendorfFY 2013/14 Budget ReviewGarbage Fees

Size

Current Monthly

Fee Annualized

Monthly fee

beginning 4/1/2013

Monthly Increase Annualized

Annual Increase

Monthly fee beginning

4/01/2014


4/01/2015


4/01/2016(1)


4/01/2017


4/01/2018

Percentage increase 3.00% 3.00% 3.00% 4.00% 4.00% 4.00%

32 gallon/twice per mo 6.39 76.68 6.58 0.19 78.96 2.28 6.78 6.98 7.26 7.55 7.85

32 gallon 9.57 114.84 9.86 0.29 118.32 3.48 10.16 10.46 10.88 11.31 11.77

65 gallon 12.75 153.00 13.13 0.38 157.56 4.56 13.52 13.93 14.49 15.07 15.67

95 gallon 15.94 191.28 16.42 0.48 197.04 5.76 16.91 17.42 18.12 18.84 19.60

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Fee increases are primarily project driven. See CIP for details.$1.50 $2.00 $2.00 $2.00 $2.00 $2.35 $2.70 $3.05 $3.40 $3.75 $3.86$0.50

$0.35$0.35

$0.35$0.35

$0.35

3%$0.11

3%$0.12

FY 07/08

FY 08/09

FY 09/10

FY 10/11

FY 11/12

FY 12/13

FY 13/14

FY 14/15

FY 15/16

FY 16/17

FY 17/18

Storm Water Rates with Planned Increases

Previous Rate Increase

City of BettendorfFY 2013/14 Budget ReviewStorm Water Fees

Current Rates

Rates beginning 4/1/2013 Increase

Beginning 4/01/2014

Beginning 4/01/2015

Beginning 4/01/2016

Beginning 4/01/2017

Beginning 4/01/2018

Rate Increase 0.35 0.35 0.35 0.35 0.11 0.12

Rate per ERU 2.35 2.70 0.35 3.05 3.40 3.75 3.86 3.98

Monthly Cost per Average ERU of 1.25 2.94 3.38 0.44 3.81 4.25 4.69 4.83 4.98

Annual Cost per Average ERU of 1.25 35.25 40.50 5.28 45.75 51.00 56.25 57.90 59.70

Note: Fee increases are primarily project driven. See CIP for details.

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$5.98 million Storm Water Projects thru FY 17/18:$1.3 million

Stafford Creek Bank Stabilization 18th to Crow Creek Rd., Tanglefoot – Maplecrest

$300,000 Middle Rd. – Stafford Creek Culvert$1.3 million Small storm sewers, sewer linings, intake repair

$490,000 Hopewell Creek detention at school$400,000 Blackbird Creek bank stabilization$435,000 Duck Creek stabilization, various phases

$730,000 Greenway Creek stabilization, Terrace Park Dr. to Golden Valley Dr.

$300,000 West Pigeon Creek bank stabilization$720,000 Pigeon Creek bank stabilization – 53rd to Crow Creek$549,000 Small storm water projects

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Fee increases are primarily project driven. See CIP for details.

$1.48 $1.68 $1.68 $1.68 $1.68 $1.88 $2.08 $2.28 $2.48 $2.68 $2.76

$0.20 $0.20$0.20

$0.20$0.20

$.20 3% 3%

FY 07/08

FY 08/09

FY 09/10

FY 10/11

FY 11/12

FY 12/13

FY 13/14

FY 14/15

FY 15/16

FY 16/17

FY 17/18

Sewer Rates with Planned IncreasesPrevious Rate Increase

City of BettendorfFY 2013/14 Budget ReviewSewer Fees

Current Rates

Rates Beginning 4/1/2013 Increase

Beginning 4/01/2014

Beginning 4/01/2015

Beginning 4/01/2016

Beginning 4/01/2017

Beginning 4/01/2018

Rate Increase 0.20 0.20 0.20 0.20 0.09 0.08

Rate per 100 cu.ft. 1.88 2.08 0.20 2.28 2.48 2.68 2.76 2.84Monthly Cost of Average Usage (7.33 cu.ft. per month) 13.78 15.25 1.47 16.71 18.18 19.64 20.23 20.82

Annual Cost of Average Usage 165.36 182.96 17.64 200.55 218.14 235.73 242.77 249.81

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$9.46 million Sewer Utility Projects thru FY 17/18:

$3.5 million

I-80 interceptor sewer from Forest Grove to Indiana, lift station & pumps

$250,000 Infiltration & Inflow analysis and city-wide improvements

$535,000 Chimney seals, manhole rehab, sewer televising, pipe lining, etc.

$5.16 million Joint sewer improvements• $300,000: Debt service estimate on joint sanitary sewer improvements with Davenport.

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Annual Impact of Taxes & Fee Changes in FY 13/14 Budget:

ResidentialMedian Value:

$162,235

Small BusinessMedian Value:

$253,510

City’s Portion of Property Tax +$42.04 No Change

Sewer Fees$1.88 per unit ($0.20 increase)

+$17.64(22 units/quarter)

+$45.60(57 units/quarter)

Storm Water Fees $2.35 per ERU ($0.35 increase)

+$4.20(1.00 ERU)

+$51.87(12.35 ERU)

Solid Waste Fees $12.75 per month (3% increase)(Based on 65 gal. Cart)

+$4.56 NA

Total Increase +$68.44(+$5.79 per Month)

+$97.47(+$8.12 per month)

Total Annual Cost of Services $1,411 $4,056

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FY 12/13 Cost of City Services & Utilities for Typical $162,235 ResidenceIncluding City Property Taxes, Solid Waste Fees, Sewer Fees & Storm Water Fees for a sample

of 30 Iowa Cities with 2010 Census populations of 10,000 or More*

Storm Water

Sewer

Solid Waste

Property Tax

*Assumptions: Bettendorf median home value of $162,235, 65 gallon or comparable garbage cart, sewer usage of 7.33 units per month (733 cu. ft.), and a Storm Water ERU of 1.00. For cities using private solid waste collection, the cost above reflects rates provided by Waste Management of Iowa. --Prepared by Bettendorf finance staff with FY 12/13 tax levies and service fees from city websites and billing departments as of 10/24/2012.

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1,34

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1

1,97

1 2,04

5

2,33

3

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A budget that maintains the current levy rate at $12.55. Despite this, homeowners will see a slight increase in the City portion of their tax bills in FY 2013/14 due to the increase in the rollback.

Commercial property owners will not see a change in the City portion of their tax bills unless their assessed value has changed.

We are pleased to report…

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Quote from Moody’s Investors Service April 2012 –

“The assignment of the City’s Aa1 rating reflects the city’s sound financial operations supported by solid reserves and significant revenue flexibility.

City finances are expected to remain healthy due to the existence of solid cash reserves, management’s adherence to a formal General Fund balance policy, and significant operating margin within the tax rate limit. Financial operations have consistently remained sound as the city’s General Fund has posted annual surpluses over the past ten years.”

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Questions and

Answers

Budget Highlights $ 87.1 million

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Transcript of Budget Highlights $ 87.1 million