2014 city budget august 6 – public hearing 1. 2014 budget overview 2014 city budget of...

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2014 City Budget

August 6 – Public Hearing

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2014 Budget Overview

2014 City Budget of $130,785,167(including the CIP Reserve Fund)

Budget increase of $8,869,583

Increase in property taxes of $956,131

2013 Valuation of 484,979,521 (an increase of about 4.8% over 2012)

New improvement property taxes of about $534,000

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2014 City Budget of $130,785,167Budget increase of about $9 million over

the 2013 City Budget

$3.2 million from Bond & Interest Fund $2.3 million from Enterprise Funds $1.2 million from General Fund $2.3 million from Special Revenue Funds

2014 Budget Overview

About one-half of this increase is related to Enterprise Fund reserves and the renewed Riley County sales tax

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2014 Budget Overview

There were budget reductions and funding changes of about $844,700 or 1.743 mills

since the first budget work session

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2014 Budget OverviewIncrease/Decrease

Mill Levy Change

First Work SessionProposed mill levy increase ----- 2.741

Second Work Session No Action ----- 2.741

Third Work Session

Valuation increase 10,334,500 (.998)

Budget reductions and funding changes (719,209) (1.483)

Fourth Work Session Budget reductions and funding changes (125,530) (0.260)

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2014 Budget Overview

2011 2012 2013 2014(proposed)

41.917 42.156 43.439 43.439

…and a proposed mill levy of …

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Increase in property taxes of $ 956,131

2014 Budget OverviewProperty Taxes for Outside Agencies

RCPD $ 168,410 Library 50,102

Library EBF 25,056

$ 243,568 RCPD

Property Taxes for City Services DelinquencyGeneral Fund $ 682,014 (263,476)

Employee Benefit Fund 300,808 Fire Equipment Reserve 168,900

KP&F 443,639 Bond & Interest Fund (622,646)

$ 972,715

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ProposedIncrease to

Property Taxes

Absorbing RCPD

Delinquency

New Improvement

Property Taxes

General Fund $ 682,014 (263,476) $ 533,934

2014 Budget Overview

Please recall that “new improvement taxes” are property taxes on new construction and additions

that have never been taxed before.

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2014 Budget Overview

Based on Total Proposed City Mill Levy (43.439)

An…. “increase in property taxes may be more of a function of market appraisal under Kansas law than it is local mill levy rates.”

“The 2014 City Budget, as published, will see no increase in residential or commercial City property tax bills, presuming that a property did not experience an increase in market value.”

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2014 Budget OverviewCity Enterprise Funds

Water Fund – A rate adjustment discussion is planned this November after reviewing 3rd quarter revenues.

Wastewater Fund – A rate adjustment of 3% for 2014 is proposed.

Stormwater Fund – A rate adjustment of 3% for 2014 is proposed.

Requires approval of a Charter Ordinance and 90-day waiting period.

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2014 Budget Overview

•Recommend funding the Manhattan Arts Center of $43,700 from the General Fund (currently in the Economic Development Fund).

•Recommend transferring a payment amount of $43,700 for the Airport terminal design from the Bond & Interest Fund to the Economic Development Fund.

•Discuss a proposal to realign agency funding within the Social Services Advisory Board.

Items to be approved/discussed before approving the 2014 City Budget

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Proposed Actions

1. Conduct a public hearing.2. Approve first reading of the 2014 budget ordinance3. Approve first reading of a charter ordinance amending

stormwater rates.4. Approve first reading of an ordinance amending wastewater

rates.5. Approve a finding that the 2014 Economic Development

Fund satisfies the intent of resolution 082112-E.

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Questions?

August 20thSecond Reading of 2014

Budget Ordinances