Public Hearing FY 2011 Budget

1. Public Hearing FY 2011 Budget

2. Overall City Budget

4. 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 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

5. Budget Comparative by Major Object of Expenditure, FY10 – FY11

6. Expenditure Budget Comparative by Fund Type, FY10 - FY11

7. Budget Comparative by Major Object of Revenue Source, FY10 – FY11

8. Property Tax Revenue

9. Cedar Rapids Total Assessed Value Comparative, FY10 – FY11

10. Cedar Rapids Taxable Value Comparative, Without TIFs, FY10 – FY11

11. Taxable Value Comparison (without TIFs) - FY05 – FY11FY11 Taxable Value is $5,224,952,672

12. Comparison of Property Tax Levy, FY10 – FY11

13. City of Cedar RapidsFY11 Tax Rate Breakdown

14. Property Tax Levy on Property Owner, FY10 – FY11

15. Comparative of Tax Rates of Iowa’s Largest Cities - FY11 Proposed Tax Rate

16. General Fund

17. Budget Comparative by Major Object of Expenditure, General Fund FY10 – FY11

18. Budget Comparative by Major Object of Revenue Source, General Fund FY10 – FY11

19. Capital Improvement Program

20. 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

21. 10 Year CIP Expenditures by Fund – FY 2011 - FY 2020

22. The largest fund areas in terms of expenditures in FY 2011 include: 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

23. FY 2011 CIP Expenditures by Fund

24. FY 2011 CIP Revenues by Source Non-Flood Flood

25. Debt

26. Comparative Debt Service Levy

27. Bond Issue by Fiscal YearFY 2006 – FY 2011

28. Debt Limit Capacity Comparative

29. Utilities

30. Original Budget RequestRepresentative Monthly BillWater, Sewer/WPC & Solid Waste(Typical customer - 10 units Water & 10 units Sewer)

31. Revised Budget Request – 2/18 Budget MeetingRepresentative Monthly BillWater, Sewer/WPC & Solid Waste(Typical customer - 10 units Water & 10 units Sewer)

32. Revised Budget – Latest VersionRepresentative Monthly BillUpdated Water, Sewer/WPC & Solid Waste(Typical customer - 10 units Water & 10 units Sewer)

33. Looking Ahead

34. Looking Ahead • Continued focus on improving the efficiency and effectiveness of City services. • Restoring affordable housing for citizens affected by the flood. • Establish level of City services to be provided in future years. • Working with the Legislature to receive increased assistance for flood recovery. • Implement comprehensive energy management plan, building facilities management plan, and long term capital improvement plan. • Complete property acquisition plan. • Implementing neighborhood revitalization and enhancement plan. • Develop neighborhood resource centers.

35. Comments