Public Hearing FY 2011 Budget. Overall City Budget. Taxable valuations increased by 2.8%. In total, the property tax levy rate will not increase. Operating tax levy will decrease by $.18730/$1000 to $12.74667 Debt service levy will increase by $.18730/$1000 $2.46954
In total, the property tax levy rate will not increase.
Operating tax levy will decrease by $.18730/$1000 to $12.74667
Debt service levy will increase by $.18730/$1000 $2.46954
General fund will use $1.8M of reserves to fund operations.
The overall budget decreased $117.2M from $752M in FY10 to $634.8M FY11
The largest portion of the budget decrease is a result of the 2008 flood. FY11 budget decreased $102M from $359.5M to $257.5M.Budget at a Glance
General – FY11
Budget Comparative by Major Object of Expenditure, – FY11General Fund FY10 – FY11
Capital – FY11
The total estimated cost of the 10 year CIP program is $2.5 billion. Of this amount, $350M is expected to be spent in FY11.
The largest fund area in terms of expenditures over the 10 year program is 2008 Flood Recovery. The City estimates it will spend $1.4 billion over the budgeted 10 years.
The next largest fund area in terms of expenditures over the 10 year program is Street Improvements with an estimated budget of $285M.
The largest revenue source over the 10 year program relates to new borrowings for $1.15 billion. Of this $882M is budgeted for general obligation bonds.CIP at a Glance – 10 Year Program
2008 Flood Recovery $257M
Street Improvements $32M
Airport Construction $18M
Water Construction $9.6M
WPC Construction $8.2M
Sanitary Sewer Improvements $6M
The largest revenue source in FY 2011 relates to federal, state, and local grants budgeted at $271M.CIP at a Glance – FY 2011
Revised Budget Request – include:2/18 Budget MeetingRepresentative Monthly BillWater, Sewer/WPC & Solid Waste(Typical customer - 10 units Water & 10 units Sewer)
Revised Budget – Latest Version include:Representative Monthly BillUpdated Water, Sewer/WPC & Solid Waste(Typical customer - 10 units Water & 10 units Sewer)