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00. Budget InformationFROM: Amy Robertson, Finance Director Jane Howington, City Manager SUBJECT: FY 2012 Budget -Final Numbers Memo MEETING BATE: August 15, 2011 The City Council approved the Preliminary Budget on June 20th. A public hearing was held on July 181h 2011. Since that time the budgets have been reworked to reflect the actual costs for FY2011 and a spreadsheet is provided with the changes to the Preliminary Budget. Changes occur as carryovers are adjusted from estimates to actual numbers. Enclosures are lettered A-D. A —Changes to Preliminary numbers - The General Fund budget total is unchanged. We increased the gas appropriation and moved some funding from fire to police and facilities maintenance. Utilities for the north fire station will be paid out of facilities maintenance like all the other General fund utility payments. We had a savings in liability premiums which offset the increases. Additions and reductions to the budget are itemized on the 4 page spreadsheet. The largest change is the addition of the $1 million Brownfields Loan Revolving Fund grant accepted by council since the Preliminary Budget was prepared. Funds expended this spring for Street Maintenance and chip sealing resulted in reductions in Gas Tax and Special Street funds. Most of the other grants are reductions adjusted for the carryover of remaining funds. The CTEP funds for the Woodland Connector expected to be complete June 301h was carried over due to the weather. In addition to the City budget, the Parking Commission is revised to reflect actual costs. B -Included for your information is the 2 page General Fund Revenue Recap. The recap reflects the actual 2011 revenue and the ending cash carryover balance for 2011(balanced with the City's General Ledger). Tax collections were pretty close to estimates for FYI 1. The County has collected $155,000 in protest taxes which they hold and won't appear on our books as revenue until released or not at all if refunded. For that reason the estimates for tax collections for FYI 2 are more conservative than the mill value times the number of mills -- actual collections are often quite different. The bottom of Revenue page 2 reflects that we have increased our cash carryover to 11.32% at year end primarily due to reduced spending by departments. The FY2012 budget expenditures are higher than the FY2011 budget due to 911 Center contracted costs and health insurance increases. Revenue reflects an increase in the transfer from the health insurance fund to offset the insurance increase. Based on the DOR values our anticipated growth is slightly higher than last year. (example: Wal-Mart's value increased from $7 million to $12 newly taxable.) The FY2012 year end carryover may reach 14% of expenditures. The statutes allow a 50% carryover since tax revenue is collected twice a year. A 15-20% carryover would be helpful for cash flow purposes and may take some time to build. Pages B-3 and 4 is the General Fund appropriation summary, C —Fund Position for all funds is presented on the two page Fund Position spreadsheet which has been revised to reflect the actual beginning cash in each fund, anticipated revenue and final budget expenditures. The budgeted expenditures total matches the appropriation resolution. D -- Department of Revenue values and levy calculation. Although the city will generate approximately $200,000 in revenue related to new construction and annexation, the overall taxable value of the city is less than the previous year DOR. values. This is most likely related to reductions in value commercial and residential properties and properties receiving tax exempt designations. Our new mill value is S40,070. when the mill value is reduced for the newly taxable amount to compare to the prior year it results in a mill value of $3 8,543 . (see D-2) The mill value we had last year was $39,448. In order to generate the same revenue as last year it is necessary to increase the number of mills levied for the General Fund to 145.88 mills. This is the floating mill as calculated with the information from the Department of revenue. (The mill value changes daily so this is a number that may not relate to what the County Treasurer bills or we collect.) D-3 is a 5 year history of the levy. The levies for the pool and fire hall bond issues are reduced due to growth; the health levy increase relates to the rise in premiums. The Airport TIP district value dropped due to several commercial buildings be reduced in value; Jones music store and the furniture store behind Mackenzie Pizza were empty January 0 and Hilton was given an adjustment also. The westside TIP increased in value as the DOR corrected the district for a number of properties which were left out previously. The values for old School Station increased slightly due to reappraisal. fin.. i•-. General Fund FY2012 Additions Prelixuinary Budget Corrections/deletions Chan es and _questions: carryover items ORIGINAL PRELIM BUDGET $ %220,470 GENERAL GOVERNMENT 1000-400-5 i 03 i 0--5 i 3 Liability Insurance reduction $ (245545) COURT 1000-406-410360-153 Health insurance change to family plan $ 3545 CENTRAL GARAGE 1000-410-431330-231 Gas & Oil increase $ 81000 POLICE INEPT. 1000-4I3-420I40--I I0 Salaries adjmt from fire vacancy savings $ 15,000 1000-413-420140-155 retirement it$ 21500 1000-413-420141-110 Salaries it$ 51000 1000-413-420141--1.55 retirement it$ 700 1000--413-420140-527 Transfer to Dmor Fund Increase City match $ 81700 $ 31,900 CITY FACILITIES 1000-412-411230-341 Electric move from Fire budget $ 21000 1000-412-411230-344 Natural Gas utilities for Station 62 (from Fire budget) $ 10,000 1000-412-41.1.230-21. S Furnace furnace not covered by grant $ 75500 1000--412-411230-354 Contract Services carryover $ 4,000 $ 235500 Fire Department 1000-41.6--420400-110 Salaries vacancy savings $ (235200) 1000-416-420400-341 Station 62 Electric move to City Hall budget $ (95500) 1000-416-420400-344 Station 62 Gas move to City Hall budget $ (10y000) Subtotal Fire Dept. $ (429700) Total General Fund changes: $ - FINAL BUDGET - GENERAL FUND $ 952205470 SPECIAL REVENUE z 2210 PARKS IN LIEU 2210-436-460430-826 Transfer to CTEP FUND CARRYOVER -Woodland Trail match $ 169672 2215 Parks 2215.436-460440- 53 Athletic complex health ins. -correct amt $ 25064 2215-436-460431-218 Recreation supplies addition $ 19350 $ 35414 2230 AMBULANCE 2230-440-420730-110 salaries vacancy savings $ (20,000) 2230-440-420730-153 health vacancy savings $ (5,000) 2230-440-420730-231 Gas & oil reduction $ (3,000) $ (28,000) 2310 Old School -Technology (G) 2310-480-470210-355 new appropriation Glacier Investments-TIF reimbursement $ 12,71.3 2310-480-470210-820 SID 344 transfer to debt increase in available funds $ 11,000 $ 239713 2311 Old School -Technology () 2311-480-470210-820 SID 344 transfer to debt increase in available funds $ 83725 2394 Building dept 2394-420-420530-110 salaries certification pay $ 21285 2394-420-420530-121 Overtime omitted $ 35000 2394-420-420530-155 retirement correct $ 177 2394-420-420530-353 audit fee increase $ 500 $ 5,962 2399 Safety Impact Fee Fund 2399-416-420400-944 Fire available funds reduce $ (20,000) 2420 GAS TAX 2420-421--430240-368 overlays/chip seals reduce carryover $ (1629593) 2500 Special Street 2500-421-430240-231 Gas & Oil increase $ 8,000 2500-421-430244-354 Pavement Maint. reduce carryover $ (88,000) $ (805000) 2600 Forestry 2600-436-460433-153 Health Ins change in status $ 29063 2601 Developer Trees 2601-436-460435 354 DEVELOPER'S -TREES Reduce to actual $ available $ (679) 2915 STONEGARDEN GRANT 2915-413-420140-121 Overtime reduce carryover $ (255) 2919 LAW ENFORCEMENT GRANTS 2919-413-420140--1.10 Mork comp reduce to avail funds $ (19336) SPECIAL REVENUEFUNDS -con v to 2920 BOJ--1T UPGRADES 2920--480-470210-922 improvements reduce carryover $ (21963) 2921 DRUG COURT GRANT 2921--406-410360-354 Contract services adjust carryover estimate $ (15007) 2951 DUI COURT GRANT 2951-40+410360--355 Drug & alcohol testing adjust carryover estimate 213078 2930 Preserve America Grant 2930-480-470240-354 Grant adjust carryover estimate (677) 2953 Brownfields Assessment 2953-480--470210-780 Site Assessment reduce carryover $ (52,774) 2954 Brownfields AWP 2954--480-470210-354 reduce carryover $ (63128) 2955 Brownfields Revolving Loan Fund Council Accepted 11000,000 2992 Energy Efficiency Block Grant #1 2992-412-411230-925 Building, Improvements reduced to actual available $ (51372) 2993 Energy Efficiency Bloch Grant #2 2993-412-411230-925 Building Improvements reduced to actual available $ (51224) 2957 FIRE Grants FUND 2957-416-420414-218 Fire Prevention Grant New grant $ 6,380 2957-416-420400-218 Equip non capital adjust to available cash carryover $ (11,906) $ (59526) 2975 TRAILSICTEP 2975-436-460457-950 Woodland Connector carryover (weather) $ 126,000 TOTAL SPECIAL REVENUE FUNDS $ 816,093 CAPITAL PROJECT FUNDS 4150 Fire Station #61 remodel 4150-416-420400-928 construction carryover $ 109608 ENTERPRISE FUNS 5160 AIRPORT 5160-430-430310-950 construction projects adjust to available cash carryover $ (91733) Total Airport Fund $ (91733) 6030 DATA PROCESSING 6030-405--410588-940 Switches carryover $ 75500 6030-405-410588-218 Network Fiber carryover $ 69500 6030-404410588-218 attorney computer carryover $ 19210 $ 15,210 TOTAL ENTERPRISE $ 513477 TOTAL BUDGET =TUSrT TENTS-8I01/11 $ 8329178 TOTAL, PRELIMINARY ITIiGET $ changes General Fund $ Special Revenue Funds $ Debt Service Funds Capital Projects $ Enterprise Funds $ Total changes $ BUDGETFINAL 1 41,9689625 816,093 10,60E 5,477 COMPONENT T CHANGES Parking Commission 5720-720-4201 80-110 Salaries 5720-720-4201 80-153 Health 5720-720-420180-155 retirement reductions 32J7 2,98009 03 Preliminary budget increase hours/lower rate in exchange for health ins New contract M&O Total Parking budget J$ 42,800,803 GENERAL REVENUE RECAP FUND FLTND:lid MILL VALUE $ 37,982 $ 39,448 $ 39,448 $ 40,470 ACTUAL BUDGET ACTUAL BUDGET FY09/10 FY10/11 FI'10/11 FY11/12 GENERAL FUND MILL LEVY 117.71 119.1 119.1 123.48 PROPERTY TAKES: 311100 Real Property Taxes 4,168,867 4,448,257 4,458,364 4,600,000 31 100 Westside Tif Distribution (designate Capital) 81,906 311105 PILOT payment 3,119 7,818 151521 15,520 311200 Personal Property 251,077 250,000 210,579 208,000 312000 Penalty & Interest 25,951 25,000 39,047 35,000 SUBTOTAL $ 41449,014 $ 4,731,075 $ 4,723,511 $ 4,940,426 BUSINESS LICENSES: 322101 Alcohol Beverage 241594 24,381 25,340 24,000 322300 General and occupational 986 1,200 11206 1,100 322500 Amusement 350 600 350 350 323012 Planning fees & Sign permits 62,985 65,000 17,148 40,000 323107 Excavation Permits , house moving 340 500 0 500 323109 Zoning & Site Plan Review Fees 23,635 8,500 6,129 9,500 323200 Parade Pennrits 0 0 100 2,000 323300 Animal licenses 975 900 896 900 SUBTOTAL $ 113,865 $ 101,081 $ 511169 $ 78,350 INTERGOVERNMENTAL REVENUE: 335030 MV Tax Ad Valorem 2,156 2,100 1,720 1,720 335076 Gaming Machine Permits 59,477 58,850 61,275 61,075 335110/077 Live Card Game, keno & bingo 2,650 2,650 3,600 3,600 335230 H13124 ENTITLEMENT 2,268,836 21)2721)379 2,270,459 2,272,379 SUBTOTAL $ 2,333,119 $ 2,335,979 $ 2,337,054 $ 2,338,774 FINES AND FORFEITURES: 351017 Technology fees 28,529 28,000 32,048 32,000 351016 DUI Court Fine 31210 0 3,531 31500 351000 City Court Fines & fees, admin 4651,387 4751000 513,688 500,000 SUBTOTAL $ 497,126 $ 503,000 $ 549,267 $ 535,500 can't. GENERAL FUND Revenue - Page 2 ACTUAL BUDGET ACTUAL BUDGE T # FTE's approriated FTE's General Government 1 City Manager 1.5 Human Resources Mayor Council 0.55 Media Specialist 1.34 City Clerk 3.2 Finance 110 Salaries 123,832 S 103,539 S 63,056 20,080 78,245 191,804 114 Comptime Buyback & severance 5,000 121 Overtime &, Spec. Assign PD, Def Comp. 500 153 Health Insurance 14,956 16,667 27,936 8,200 10,357 35,449 155 Retirement 7,985 6,725 2,432 1,299 5,062 12,453 TOTAL PERSONAL SERVICES - 151,773 126,931 93,424 29,579 94,164 239,706 210 Supplies/ofrice/computers/Non-capitaI equip 2I8 3,000 8U4 400 50 1,000 100 220 Other supplies, safety equip, ammo, 230 Supplies & FUEL; chemicals, concession sup 240 Uniforms 312 Postage 16,000 320 Printing, advertising, newsletter, books 6,000 500 300 330 Audit, filing fees 4,935 1,000 340 Electricity, natural gas 345 Telephone, web, cell, radio, security cameras 400 450 100 350 Prof. Serviceslauditlelecdon/911 disp.IkidsportiEagle 517,036 7,500 100 2,500 3,525 6,500 362 Maine. services, building, equip,radios,landscaping 6,600 360 Technology services (court) 370 Dues & Training, meetings 3,000 3,900 9,300 1,275 2,500 380 Medical services 390 Other Purchased Services 500 Fixed Charges, Insurance, County taxes,transl'ers 335,455 SUBTOTAL PURCHASED SERVICES/SUPPLIES 889,026 4,700 11,800 9,450 3,500 5,350 10,400 600 DEBT SERVICE 940 CAPITAL OUTLAY -Police Cars DEPARTMENT TOTAL 2012 S 889,026 S 156,473 S 138,731 S 102,874 $ 33,079 S 99,514 S 250,106 2012 Preliminary inary (info only) $ 913,571 $ 156,473 S 138,731 $ 102,874 $ 33,079 $ 99,514 $ 250,106 change $ (24,545) $ - $ - S - $ - S - $ - 4.66 4 0.25 3 1.4 40 23.3 4.25 88.45 Municipal Public Central Planning Attorney Court Works Garage City Hall Police Fire Department TOTAL $ 307,471 $ 198,727 $ 17,430 $ 150,825 $ 64,123 2,358,209 $ 1,415,337 $ 234,306 $ 5,326,984 2,000 9,000 15,000 $ 31,000 1,700 200 117,500 32,500 $ 152,400 53,367 46,88 3,755 31,170 13,130 430,064 278,063 53,669 $ 1,023,601 19,972 12,884 1,129 9,252 4,010 300,699 190,191 15,216 $ 589,309 380,810 258,429 24,314 192,947 81,463 31215,....................... .. . .. . . . ...472 1,931,091 303,191 $ 7,123,294 3,200 4,500 2,025 1,850 19,500 10,200 7,500 $ 54,125 5,550 24,150 50,500 16,500 $ 96,700 245,200 4,500 - $ 249.700 - 15,000 $ 15,000 $ 16,000 7,000 500 5,000 1,950 2,700 $ 23,950 1,250 $ 7,185 9300 95,000 28,000 $ 132,300 1,200 1,400 200 250 15,500 900 $ 20,400 5,000 5,750 750 77,000 23,000 14,500 8,000 1,600 $ 672,761 1,250 26,800 24,500 - $ 59,150 55,000 $ 55,000 4,500 6,300 1,150 500 38,000 16,650 3300 $ 90,375 250 5,500 - $ 5,750 18,750 1,500 $ 20,250 2,000 82,200 $ 419,655 20,900 92,200 4,125 340,900 171,200 262,450 96,300 16,000 1,938,301 17,105 66,770 $ 83,875 75,000 $ 75,000 $ 401,710 $ 350,629 $ 28,439 $ 533,847 $ 269,768 $ 3,552,922 $ 2,094,161 $ 319,191 $ 91220,470 $ 401,710 $ 346,784 $ 28,439 $ 525,847 $ 246,268 $ 3,521,022 $ 2,136,861 $ 319,191 $ 9,220,470 $ - $ - $ 3,845 $ - $ 8,000 $ 23,500 $ 31,900 $ (42,700) $ - $ .. C-i Estimated Resources Anticipated BUDGETED Estimated Available Revenue Expenditures Ending balance/ Beginning Year Carry over Fund Description 000 General Fund General Fund- On-belialf payments Special Revenue Funds: 2185 TAX INCREMENT -AIRPORT $ 2188 TAX INCREMENT-WESTSIDE $ 2210 PARRS IN LIEU OF $ 2215 PARKS & RECREATION FUND $ 2230 AMBULANCE $ 2310 OLD SCHOOL TECHNOLOGY TIF S 2311 OLD SCHOOL INDUSTRIAL TIF S 2399 IMPACT FEE FUND $ 2372 HEALTH -PERMISSIVE LEVY $ 2394 BUILDING CODE ENFORCEMENT $ 2400 LIGHT MAINTENANCE $ 2420 GAS TAX $ 2500 SPECIAL STREETITSS $ 2600 URBAN FORESTRY DISTRICT $ 2601 DEVELOPER'S TREES $ 2825 MACI GRANT $ 2880 CD LOAN REVOLVING $ 2882 COURTYARD RESERVE FUND $ 2886 COMMUNITY DEVELOPMENT $ 2887 RURAL DEVELOPMENT $ 2888 RURAL DEVELOPMENT 92 $ 2915 HOMELAND SECURITY STONEGARDEN GRAN] $ 2916 DRUG ENFORCEMENT GRANT $ 2917 COPS TECHNOLOGY PROGRAM GRANT $ 2918 COPS HIRING RECOVERY PROGRAM $ 2919 LAW ENF. BLOCK GRANT $ 2920 BOJ- ITUPGRADES Public Safety Bldg. $ 2921 DRUG COURT GRANT $ 2927 CULTURAL ARTS GRANT $ 2930 PRESERVE AMERICA GRANT $ 2945 CDBG - ED FVCC#2 $ 2951 DUI COURT GRANT $ 2953 EPA BROWNFIELDS ASSESSMENT GRANT S 2954 BROWNFIELDS AREA WIDE PLANNING $ 2955 BROWNFIELDS LOAN REVOLVING $ 2957 FEMA GRANT $ 2975 TRAILSICTEP $ 2991 NEIGHBORHOOD STABILIZATION GRANT $ 2992 STIMULUS - ENERGY PROGRAM $ 2993 STIMULUS - ENERGY PROGRAM #2 $ 2995 SAFER GRANT S Total Special Revenue Funds $ 1,007,681 $ 9,552,214 $ (9,220,470) $ 1,339,425 $ 1,200,000 $ (1,200,000) $ - 1,372,945 S 504,637 $ (1,044,700) $ 832,882 2,256,037 S 424,168 $ (2,553,754) $ 126,451 54,468 $ 28,000 $ (52,672) $ 29,796 216,023 S 1,355,730 S (1,299,762) $ 271,991 86,721 $ 691,000 S (761,058) $ 16,663 4,601 $ 60,282 $ (64,623) $ 260 7,462 S 10,760 S (18,000) $ 222 197,294 S 84,788 $ (280,537) $ 1,545 15,234 $ 665,578 $ (648,147) $ 32,665 149,608 S 288,200 $ (316,115) $ 121,693 150,829 $ 232,700 $ (262,721) $ 120,808 344,885 $ 370,904 $ (602,682) $ 113,107 1,104,349 S 1,985,700 S (2,214,795) S 875,254 68,235 $ 214,150 $ (240,017) $ 42,368 97,833 $ - $ (97,833) $ - - $ 200,000 $ (200,000) $ - 332,082 $ 71501 $ (225,000) S 180,583 - $ 108,094 S (108,094) $ -- 357,684 S 43,821 S (151,885) $ 249,620 248,262 $ 30,110 S (244,839) S 33,534 117,582 $ 37,536 $ (95,014) $ 60,104 $ 7,743 $ (7,743) $ .- 8,328 $ 89,500 $ (90,965) $ 6,863 - $ 750,000 S (750,000) S - 25,000 $ 92,094 $ (72,094) $ 45,000 1,030 $ 90,500 $ (91,530) $ - $ 216,257 $ (216,257) $ - $ 265,993 $ (265,993) $ - - $ 27,000 $ (27,000) $ - - $ 69,323 $ (69,323) $ - S 273,945 $ (273,945) $ - $ 46,078 $ (46,078) $ - $ 268,058 $ (268,058) $ - S 148,872 $ (148,872) $ - $ 1,000,000 $ (1,000,000) $ - 47,292 S 109,909 $ (155,930) $ 1,271 420 $ 172,672 $ (156,000) $ 17,092 $ 150,000 $ (150,000) $ .- $ 64,656 $ (64,656) $ $ 92,023 $ (92,023) $ -. $ 310,046 $ (216,863) $ 93,183 7,264,204 $ 11,654,328 $ (15,645,577) $ 3,272,955 c-a 2012 PAGE 2 - Fund Position Resources .Anticipated BUDGETED Estimated .Available Revenue Expenditures Ending Balance/ Beginning Year Carry over Debt Service Funds: SID Revolving Fund $ 247,343 $ 2,500 $ (12,000) S 237,843 G.D. BOND, series 2002 - Pool $ 19,054 S 290,155 S (289,450) $ 19,759 G. O. BOND, series 2005 - Fire Hall $ 32,318 $ 260,000 S (266,438) $ 25,880 NEW CITY HALL Debt Service $ 310 S 156,753 S (156,753) $ 310 SIDEWALK & CURB WARRANTS $ - $ 15,305 $ (15,305) $ - SIDs $ 262,075 $ 508,758 S (502,528) S 268,305 AIRPORT TIF DEBT SERVICE $ 243,649 $ 662,500 $ (680,875) S 225,274 Total Debt Service funds $ 804,749 $ 1,895,971 $ (1,923,349) $ 777,371 Capital Project Funds: 4150 Station 61 Grant $ - S 10,608 S (10,608) 4290 WALK & CURB $ - $ 25,000 $ (25,000) $ - 4300 FAA Non -Primary Entitlement S - S 600,000 $ (600,000) $ - 4312 FAA Planning; Grant $ 3,300 $ 62,675 $ (65,975) $ Total Capital Projects S - $ 698,283 $ (701,583) S - Enterprise Funds: 5210 WATER $ 3,891,536 $ 2,631,000 $ (4,416,760) $ 2,930,776 5310 SEWER/WWTP $ 4,479,886 S 4,073,639 S (6,621,658) $ 4,583,466 5349 STORM SEWER $ 2,510,297 $ 956,000 $ (1,369,101) $ 2.357,196 5510 SOLID WASTE S 636,254 $ 815,000 $ (1,061,488) $ 514,766 5610 AIRPORT * $ 188,775 $ 88,685 S (253,685) S 124,607 Total Enterprise Funds S 11,706,748 S 8,564,324 S (13,722,692) $ 10,510,811 Internal Service Funds: 6030 DATA PROCESSING FUND $ 105,506 S 322,261 S (387,132) $ 45,635 Total Internal Service Funds $ 105,506 $ 322,261 $ (387,132) S 45,635 TOTAL CITY BUDGET $ 20,888,888 $ 33,887,381 $ (42,800,803) $ 15,946,197 * cash adjusted +$4,767,431 for non -cash line items (depreciation) Component Units 5720 PARKING COMMISSION* $ 35,045 S 120,600 $ (139,036) $ 23.609 2700 BUSINESS IMPROVEMENT DISTRICT $ 125,796 S 84,622 $ (210,218) $ 200 Total with Component units $ (43,150,057) I h5ontan,a betpartmant of REVENUE Y MONTANA Form AB-72T Rev. 5-11 2011 Certified taxable Valuation Information (15-10-202, MCA) County Flathead Taxing Jurisdiction Kalispel-I City 1. 2011 Total Market Value ........................... . ..... . ........................ $ 2. 2011 Total Taxable Value ......................................... . ............... $ 3. 2011 Taxable Value of Newly Taxable Property ...... . ..................... $ 4. 2011 Taxable Value less Incremental Taxable Value* 11413,040,989 415785,560 1 52 7 602 $ 40,069,963 5. 2011 Taxable Value of Net and Gross Proceeds $ (Class 1 and Class 2 properties) .......................................... Tax Increment Current Taxable Base Taxable Incremental District Game Value Value Value Kalispell B 1_2461,072 453,612 1,0071460 Kalispell C 3 808,596 3 222 347 586,249 Old School Tech G 104,162 390 103 772 Old School Industrial H 18,244 128 18 116 6. Total Incremental Value 1 97 Preparer Monty E. Long____Date 7-29-11 *This value is the taxing jurisdiction's taxable value less total incremental value of all tax increment financing districts. r w r r " w r r r r .. M .. r ti w w r r r .s w w ,r + w r r r w r r .. w r. w w r r n r r w u. OF v r w W a r s r r .. s w is .r For Information Purposes only 2011 taxable value of centrally assessed property having a market value of $1 million or more, which has transferred to a different ownership in compliance with 15-10--202(2), MCA. Value included in `rnewly taxable'' p�opey� Total value exclusive of "newly taxable" property $ 5 738 4 o-F i Mill levy calculation = Dept. of Revenue values for FY2012 DETERMINATION OF TAX REVENUE AND MILL LEVY IMITATIONS UNDER HOUSE BILL 124 MAXIMUM PROPERTY TAXES AUTHORIZED: Ad valorem tax revenue assessed 2010-2011 51582,455 Add: FISCAL YEAR 2011 INFLATION ADJUSMENT @ 0.72% Section 94 (1)(a) 40,194 40,194 Property Tax Revenue Assessed 51622,649 CURRENT YEAR LEVY COMPUTATION: Taxable value per mill 40gO7O Less: Newly taxable property per it value, (1 1527.00) Taxable value per mill (enter as negative) (1,527) Adjusted Taxable value per mill 38,543_ Authorized mill levy under 1113 124 145.88 Adjusted taxable value per mill 38,543 Add: Newly taxable property per mill value 13527 Taxable value per mill of net and gross proceeds (co 0 11527 Taxable value per mill (including newly taxable property) 40,070. Authorized mill levy under 1113 124 (includes floating mills) 145-88 Current property tax revenue limitation 5,845,407 RECAPITULATION: Previous year adjusted property tax revenue assessed (5) 51622,649 Amount attributable to newly taxable property and net/gross proceeds 222y751, Current property tax revenue 51845,407 Mill Levy - 5 year Comparison FY2008 FY2009 FY2010 FY2011 FY2012 GENERALFUND 132-60 138.76 117.71 119-10 123.48 PARKS -designated mills 22.40 22.40 22.40 140.11 141.50 145.88 "Permissive levies: G. 0. BOND, series 2002 -vot POOL 7.50 7.75 7.50 7.50 7.00 G. 0. BOND, series 2004 -vot FIRE ALL 8.00 7.50 7.00 6.70 6.50 Health Ins. levy -premium increases 14.75 16-22 13-60 13.04 14.95: Parks health 1.60 1.60 1.60 TOTAL CITY LEVY 162.85 170.23 169.81 170.34 175.931 **The legislature provided for the increase in mills necessary to pay higher health insurance premiums. The pool debt service levy is voter approved and can go up or down each year depending on the debt service schedule and the value of the mill. The same is true for the FireHall debt service_ Examples: DOR assessed tax rate Market values 0.0282 2010 levy 2011 levy annual 2010 Taxable value 0.17034 0.17593 increase Residential $ 755000 $ 25115 $ 360 372 $ 12 $ 100,000 $ 2,820 $ 480 $ 496 $ 16 $ 120,000 $ 3,384 $ 576 $ 595 $ 19 $ 1505000 $ 45230 $ 721 $ 744 $ 24 $ 1855000 $ 51217 $ 889 $ 918 $ 29 $ 2001)000 $ 5,640 $ 961 $ 992 $ 32 $ 2255000 $ 61345 $ 15081 $ 11116 $ 35 I