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Public Hearing FY 2011 Budget

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Public Hearing FY 2011 Budget - PowerPoint PPT Presentation


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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

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Presentation Transcript
slide2
Overall

City Budget

budget at a glance
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
slide19
Capital

Improvement

Program

cip at a glance 10 year program
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
cip at a glance fy 2011
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
slide30
Original Budget RequestRepresentative Monthly BillWater, Sewer/WPC & Solid Waste(Typical customer - 10 units Water & 10 units Sewer)
slide31
Revised Budget Request – 2/18 Budget MeetingRepresentative Monthly BillWater, Sewer/WPC & Solid Waste(Typical customer - 10 units Water & 10 units Sewer)
slide32
Revised Budget – Latest VersionRepresentative Monthly BillUpdated Water, Sewer/WPC & Solid Waste(Typical customer - 10 units Water & 10 units Sewer)
looking ahead
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.
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