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The City of New London
Statement of Finances and Fiscal Year 2019-2020 Budget
April 2, 2019
Presented to the City Council
Agenda
Historical Financial PerformanceRevenues and Expenses
Fund Balance
FY 2020 Mayor’s Recommended BudgetBudgeted Revenues
New London Grand List GrowthLocal Municipal Grand List Growth ComparisonIntergovernmental RevenuesCharges for ServicesBudgeted ExpendituresTotal Budget SummaryTotal Taxpayer Support
Proposed Mill Rates and tax impactPage 2
$78,000,000
$80,000,000
$82,000,000
$84,000,000
$86,000,000
$88,000,000
$90,000,000
$92,000,000
$94,000,000
2013 2014 2015 2016 2017 2018
FY 2013-2018 Revenues and Expenses
Revenues/Inflows Outflows
2013 2014 2015 2016 2017 2018Avg. Annual
Growth
Revenues $ 80,613,875 $ 81,999,709 $ 86,264,613 $ 86,665,349 $ 90,791,973 $ 92,808,426 2.9%
Expenses $ 75,166,494 $ 75,876,946 $ 78,675,446 $ 81,166,073 $ 81,390,475 $ 81,386,235 1.6%
(unaudited)
Page 3
2013 2014 2015 2016 2017 2018
Fund Balance Change 208,169$ 848,163$ 1,925,668$ 480,800$ 3,490,698$ 4,605,241$
Capital Reserve Account -$ -$ -$ -$ -$ 1,800,000$
Final Fund Balance 1,471,158$ 2,319,321$ 4,244,989$ 4,725,789$ 8,216,487$ 11,021,728$
(unaudited)
Operating Budget 80,405,706$ 81,151,546$ 84,338,945$ 86,184,549$ 87,301,275$ 88,203,185$
FB as a % of Op Budget 1.8% 2.9% 5.0% 5.5% 9.4% 12.5%
$-
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
$12,000,000
2013 2014 2015 2016 2017 2018
FY 2013-18 Fund Balance
Fund Balance Change Capital Reserve Account Final Fund Balance
Page 4
FY 2020 MAYOR’S RECOMMENDED BUDGET
Taxes, net $ 56,957,560
Intergovernmental 30,701,980
Charges for Services 3,670,020
Other 2,222,100
Revenues $ 93,551,660
Personnel $ 20,632,560
Fringe Benefits 9,293,850
Operating 6,061,530
Debt Service 8,668,960
Education 43,585,900
Other 5,308,750
Expenditures $ 93,551,550
Page 5
Real Estate Taxes51%
Personal Property Taxes5.2%
Motor Vehicle Tax4.6%
Permits and Licenses
1%
Intergovernmental33%
Charges for Services
4%
Fines and Penalties
0%
Other 1%
Revenue Sources
Real Estate Taxes $ 47,751,000
Intergovernmental $ 30,701,980
Personal Property Taxes $ 4,883,460
Other Taxes $ 4,323,000
Charges for Services $ 3,670,020
Permits and Licenses $ 531,300
Fines and Penalties $ 417,900
Other $ 1,272,900
Total Revenues $ 93,551,560
Page 6
Fiscal Year Net Real Estate Net Motor Vehicles Net Personal Property Total
2015-2016 $1,051,171,943 $97,673,955 $105,127,639 $1,253,973,537
2016-2017 $1,086,663,333 $98,879,400 $111,131,221 $1,296,673,954
2017-2018 $1,087,976,909 $102,134,000 $118,386,543 $1,308,497,452
2018-2019 $1,102,086,733 $104,392,680 $118,902,910 $1,325,382,323
2019-2020 $1,217,308,946 $105,532,580 $127,817,317 $1,450,658,843
Average
Annual Growth 3.8% 2.0% 5.0% 3.8%
$0
$200,000,000
$400,000,000
$600,000,000
$800,000,000
$1,000,000,000
$1,200,000,000
$1,400,000,000
$1,600,000,000
2015-2016 2016-2017 2017-2018 2018-2019 2019-2020
New London Grand List Growth
Net Real Estate Net Motor Vehicles Net Personal Property Total
Page 7
Fiscal Year 2016 2017 2018 2019 2020 Annual Growth
New London 1,253,973,537$ 1,296,673,954$ 1,308,497,452$ 1,325,382,323$ 1,450,658,923$ 3.8%Groton 3,820,151,399$ 3,802,539,060$ 3,717,020,790$ 3,732,711,091$ 3,737,667,321$ -0.5%
Norwich 1,801,147,830$ 1,814,259,662$ 1,832,251,982$ 1,874,078,028$ 1,991,263,636$ 2.6%
Waterford 3,158,331,722$ 3,193,864,172$ 3,239,062,198$ 3,290,294,493$ 3,301,548,695$ 1.1%
Grand List Year 2014 2015 2016 2017 2018
$1,253,973,537 $1,296,673,954 $1,308,497,452 $1,325,382,323 $1,450,658,923
$3,820,151,399 $3,802,539,060 $3,717,020,790 $3,732,711,091 $3,737,667,321
$1,801,147,830 $1,814,259,662 $1,832,251,982 $1,874,078,028 $1,991,263,636
$3,158,331,722 $3,193,864,172 $3,239,062,198 $3,290,294,493 $3,301,548,695
$1,000,000,000
$1,500,000,000
$2,000,000,000
$2,500,000,000
$3,000,000,000
$3,500,000,000
$4,000,000,000
2016 2017 2018 2019 2020
Historical Municipal Grand List Growth
New London Groton Norwich Waterford
Page 8
Education Cost Sharing, $22,481,750 , 73%
Colleges & Hospitals PILOT, $4,620,940 ,
15%
Pequot/Mohegan Fund, $1,667,830 , 6%
Muni Stabilization Fund, $1,112,910 , 4% State Owned Property, $397,800 , 1%
Other , $420,750 , 1%
Intergovernmental Revenues - $30.7M
Page 9
Page 10
TOTAL STATE AIDAverage AnnualLoss: - 1.2%
Education Cost Sharing (ECS) Average AnnualLoss : - 0.0%
Colleges &Hospital PILOT Average AnnualLoss: - 2.7%
General Govt State Aid Average AnnualLoss: - 3.4%
TOTAL STATE AIDFY 2009-FY 2020Loss: - 11.3%
Education Cost Sharing (ECS) FY 2009-FY 2020Loss: - 1.4%
General GovtFY 2009-FY 2020Loss: - 31.1%
Colleges &Hospital PILOTFY 2009-FY 2020Loss: - 23.4%
$6,031,697 $5,231,445 $5,602,493
$5,129,497 $4,888,495 $4,698,208 $5,032,102 $4,998,983 $4,710,585 $4,620,940 $4,620,940 $4,620,940
$2,955,010
$1,805,837 $1,788,196 $1,814,455 $1,790,049 $1,786,210 $1,807,956 $1,836,497 $1,737,694 $1,737,694 $1,667,837 $1,667,830
$11,534,017
$10,149,209 $10,425,758
$9,388,933 $9,242,035 $8,749,767
$8,218,906 $8,324,326 $9,073,530
$8,281,799 $7,951,394 $7,951,640
$22,791,451
$19,908,985 $20,074,630
$23,211,036 $23,318,754 $23,855,518 $23,710,052
$23,287,073 $23,000,234 $22,282,343 $22,340,762 $22,481,750
$34,325,468
$30,058,194 $30,500,388
$32,599,969 $32,560,789 $32,605,285 $31,928,958 $31,611,399
$32,073,764
$30,564,142 $30,292,156 $30,433,390
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
State Aid History
Colleges & Hospitals Pequot/Mashentucket TOTAL STATE AID TO CITY TOTAL STATE AID TO EDUCATION TOTAL STATE AID
Mashantucket FundFY 2009-FY 2020Loss: - 43.6%
Mashantucket FundAverage Annual Loss: - 4.7%
Ambulance Revenue45%
Private Haulers16%
Conveyance Tax8%
Water Pollution Control 6%
Water Department5%
Transfer Station5%
Recordings2%
Telecommunication Royalties2% Other
11%
Charges for Services - $3.6M
Ambulatory Revenue Private Haulers Conveyance Tax Water Pollution Control Warer Department Transfer Station Recordings Telecommunication Royalties Other
Page 11
Page 12
FY 2020 MAYOR’S BUDGET REQUEST
CITY
Personnel $ 20,632,560
Fringe Benefits 9,293,850
Operating and related 6,061,530
CITY OPERATING $ 35,987,940
City Debt Service $ 5,362,470
WC, LAP and H&H Insurance 2,549,040
Library 885,600
Pension 684,000
Former Employees & Retirees 629,100
Ocean Beach Park, Camp New London 170,000
Other 391,010
CITY OTHER $ 10,671,220
TOTAL CITY $ 46,659,160
EDUCATION
Educational Operating $ 43,585,900
City funds for Education Debt Dervice 3,306,490
TOTAL EDUCATION $ 46,892,390
TOTAL BUDGET REQUEST $ 93,551,550
Budgeted Appropriations
Page 13
Educational Operating47%
Education Debt Service3%
Personnel22%
Fringe Benefits10%
Operating and related6%
City Debt Service6%
WC, LAP and H&H Insurance
3%
Library1%
Pension1%
Former Employees & Retirees1%
Ocean Beach Park, Camp New London
0%
Other0%
FY 2020 City and Education Budgeted Appropriations - $ 93.5M
Administration4%
Finance8%
Police28%
Fire22%
Public Works15%
Utilities3%
Recreation & Community4%
Development&Planning3%
City Debt
13%
FY 2020 City Departmental Budgets - $46.6
Page 14
Department FY 19 BudgetFY 20 Mayor's
Budget Difference
City Council $ 291,720 $ 279,310 $ (12,410)
Probate $ 35,000 $ 30,000 $ (5,000)
Personnel $ 316,030 $ 248,960 $ (67,070)
Mayor $ 526,840 $ 569,560 $ 42,720
Elections $ 107,410 $ 110,260 $ 2,850
Finance $ 3,025,160 $ 3,234,840 $ 209,680
City Clerk $ 288,410 $ 288,930 $ 520
Law $ 340,000 $ 340,000 $ -
Contingency $ 5,000 $ 10,000 $ 5,000
Police $ 11,151,090 $ 11,566,850 $ 415,760
Fire $ 9,127,960 $ 9,017,740 $ (110,220)
Emergency Mgmt $ 27,540 $ 27,000 $ (540)
Public Works $ 7,800,180 $ 7,440,690 $ (359,490)
Health $ 198,900 $ 199,600 $ 700
Recreation $ 460,180 $ 474,310 $ 14,130
Library $ 843,440 $ 885,600 $ 42,160
Sr. Center $ 484,730 $ 499,020 $ 14,290
ODP $ 1,171,430 $ 1,179,890 $ 8,460
Education $ 43,133,020 $ 43,585,900 $ 452,880
Benefits $ 1,778,090 $ 1,705,800 $ (72,290)
Interfund Trns $ 11,466,330 $ 11,857,300 $ 390,970
$ 92,578,460 $ 93,551,560 $ 973,100
Budget Comparison
Page 15
Education - $452k increase
Police - $415k increase, net
Estimated two new police positions - $212k
Estimated salary increases per contract - $ 250k
Misc other reductions
Interfund Transfers - $390k increase, net
Additional City debt service - $355
Additional Education debt service - $198k
Reduction of $155k for FY19 union negotiations
Finance - $209k increase, net
New position - Accountant $117k
New position - Systems Analyst $105k
Assessment Software requirement $103k
Other misc reductions
Public Works - $ 359,490 decrease, net
Electricity savings - $90k
FY 19 budget included $250k for 5 trucks
Fire - $110,220 decrease, net
FY 2019 SAFER Grant budgeted
FY 2019 Budgeted funds for ladder truck
FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 AVG
Education Appropriations $ 41,255,706 $ 42,445,400 $ 42,445,400 $ 42,445,400 $ 43,133,020 INCREASE
State ECS Support $ 22,940,565 $ 22,940,565 $ 22,940,560 $ 22,778,880 $ 22,668,320
Taxpayer Support $ 18,315,141 $ 19,504,835 $ 19,504,840 $ 19,666,520 $ 20,464,700
Taxpayer Support Budgeted Increase $ $ 1,189,694 $ 5 $ 161,680 $ 798,180
Taxpayer Support Budgeted Increase % 6.5% 0.0% 0.8% 4.1% 2.8%
Education Actuals (2019 budget) $ 41,297,809 $ 42,457,655 $ 42,430,145 $ 42,016,793 $ 43,133,020
State ECS Support (2019 estimated) $ 22,950,538 $ 22,962,679 $ 22,964,886 $ 22,234,384 $ 22,799,583
Taxpayer Support $ 18,347,271 $ 19,494,976 $ 19,465,259 $ 19,782,409 $ 20,333,437
Taxpayer Support Actual Increase $ $ 1,147,705 $ (29,717) $ 317,150 $ 551,028
Taxpayer Support Actual Increase % 6.3% -0.2% 1.6% 2.8% 2.6%
Historical Education Budget and Actual Information
Page 16
Mayors Recommended Taxpayer Support for Education Budget 3.1%
FY 2020 Mayor’s Recommended Education Budget
Page 17
FY 2020 Inc/(Dec) Inc/(Dec) Inc/(Dec) Inc/(Dec)
Education from from FY 2020 from from
Budget FY 2019 FY 2019 Mayor’s FY 2019 FY 2019
Request Budget Budget Budget Budget Budget
$ 46,598,170 $ 3,465,150 8.0% $ 43,585,900 $ 452,880 1.0%
FY 2020 State ECS Recommendation $ 27,376,620
FY 2020 State Alliance $ (4,436,055)
FY 2020 estimated City Educational funding $ 22,940,565
2% State set-aside $ (458,811)
FY 2020 Revised State ECS Support $ 22,481,754 $ 22,481,754 $ (186,566) -0.4% $ 22,481,754 $ (186,566) -0.4%
Taxpayer Support $ 24,116,416 $ 3,651,716 18.0% $ 21,104,146 $ 639,446 3.1%
Taxpayer Support Budgeted Increase $ $ 3,651,716 $ 639,446
Taxpayer Support Budgeted Increase % 17.8% 3.1%
FY 2020
FY 2019 Mayor’s
Approved Recommended
Budget Budget Difference Increase
TOTAL BUDGET $ 92,578,460 $ 93,551,560 $ 973,100 1.05%
General Fund Appropriation $ 49,445,440 $ 49,965,660 $ 520,220 1.05%
Education Debt Service $ (3,108,110) $ (3,306,490) $ (198,380) 6.38%
Total General Fund $ 46,337,330 $ 46,659,170 $ 321,840 0.69%
Education Operating $ 43,133,020 $ 43,585,900 $ 452,880 1.05%
Education Debt Service $ 3,108,110 $ 3,306,490 $ 198,380 6.38%
Total Education $ 46,241,130 $ 46,892,390 $ 651,260 1.41%
Total Budget Summary
Page 18
Inc/(Dec) Inc/(Dec)
FY 2019 FY 2020 from from
Adopted Mayors FY 2019 FY 2019
Budget Budget Budget Budget
General Fund Budget $ 49,445,440 $ 49,965,660 $ 520,220 1.05%
Non Tax Revenues $ 13,874,420 $ 15,050,350 $ 1,175,930 8.48%
Taxpayer Support $ 35,571,020 $ 34,915,310 $ (655,710) -1.8%
Mayor’s Education Budget $ 43,133,020 $ 43,585,900 $ 452,880 1.05%
ECS Support $ 22,668,320 $ 22,481,754 $ (186,566) -0.82%
Taxpayer Support $ 20,464,700 $ 21,104,146 $ 639,446 3.1%
General Fund Budget $ 92,578,460 $ 93,551,560 $ 973,100 1.05%
Non Tax Revenues $ 36,542,740 $ 37,532,104 $ 989,364 2.71%
Taxpayer Support $ 56,035,720 $ 56,019,456 $ (16,264) 0.0%
Total Taxpayer Support
Page 19
Proposed Mill Rate and Property Tax Impact
Property Median Mill Rate Property Increase/Category Assessment Taxes (Decrease)
2018 Grand List FY 2020
Commercial $ 226,765 0.0399 $ 9,048 $ 117
Single Family $ 109,550 0.0399 $ 4,371 $ (212)
Condo $ 49,420 0.0399 $ 1,972 $ (230)
Multi Family $ 102,900 0.0399 $ 4,106 $ 365
Industrial $ 215,040 0.0399 $ 8,580 $ (440)
2017 Grand List FY 2019
Commercial $ 204,750 0.04362 $ 8,931 $ 107
Single Family $ 105,070 0.04362 $ 4,583 $ 59
Condo $ 50,470 0.04362 $ 2,202 $ 23
Multi Family $ 85,750 0.04362 $ 3,740 $ 45
Industrial $ 206,780 0.04362 $ 9,020 $ 93
2016 Grand List FY 2018
Commercial $ 204,400 0.04317 $ 8,824
Single Family $ 104,790 0.04317 $ 4,524
Condo $ 50,470 0.04317 $ 2,179
Multi Family $ 85,610 0.04317 $ 3,696
Industrial $ 206,780 0.04317 $ 8,927 Page 20
The City of New London
Thank you
Page 21