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FY 2013 OPERATING BUDGET OVERVIEW

FY 2013 OPERATING BUDGET OVERVIEW. City Council Work Session April 10, 2012 Department of Budget and Evaluation. Revisions to FY 2013 Recommended Budget. State Revenue Restoration of Library Funds, potential Judge Uncertain about CSA, Schools, Human Svcs Line of Duty Expense

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FY 2013 OPERATING BUDGET OVERVIEW

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  1. FY 2013 OPERATING BUDGETOVERVIEW City Council Work Session April 10, 2012 Department of Budget and Evaluation

  2. Revisions to FY 2013Recommended Budget • State Revenue • Restoration of Library Funds, potential Judge • Uncertain about CSA, Schools, Human Svcs • Line of Duty Expense • Opt out of VRS plan by June 30, 2012 • Creates liability of $2.7 million • Start with $450K in FY 2013, plus other funding?

  3. Revisions, Continued • Industrial Electric Cap Tax • Proposed change from $80 to NO Cap • Initial Estimate was $750,000 • Disproportional burden • Recommend $1,500 monthly cap • Revised Estimate is $200,000 • Revenue change of ($550,000) loss

  4. Revisions, Continued • BPOL Revenue • FY 2012 will be $1.2 million higher • Included $1 million growth in FY 2013 • Means $200,000 more for FY 2013 • Closes ($550,000) gap from lower Industrial Electric Cap change to ($350,000) gap

  5. Revisions, Continued • Real Estate Tax Deferral • Change from Abatement to Deferral, Revenue savings of $600,000 in Recommended Budget • Current application rate is at only 51% of volume of current year • Additional revenue savings of $300,000 • Leaves a revenue gap of $50,000 - source to be determined

  6. Revisions, Continued • Revenue Recap $750,000 Industrial Electrical Revenue – No Cap • 550,000 Change of Cap to $1,500 per month + 200,000 Additional BPOL Revenue + 300,000 Additional Tax Deferral Revenue - 50,000 Out of Balance - TBD

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