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2014 City Budget

2014 City Budget. August 6 – Public Hearing. 2014 Budget Overview. 2014 City Budget of $130,785,167 (including the CIP Reserve Fund). Budget increase of $8,869,583. Increase in property taxes of $956,131. 2013 Valuation of 484,979,521 (an increase of about 4.8% over 2012).

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2014 City Budget

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  1. 2014 City Budget August 6 – Public Hearing

  2. 2014 Budget Overview 2014 City Budget of $130,785,167 (including the CIP Reserve Fund) Budget increase of $8,869,583 Increase in property taxes of $956,131 2013 Valuation of 484,979,521 (an increase of about 4.8% over 2012) New improvement property taxes of about $534,000

  3. 2014 Budget Overview 2014 City Budget of $130,785,167 Budget increase of about $9 million over the 2013 City Budget • $3.2 million from Bond & Interest Fund • $2.3 million from Enterprise Funds • $1.2 million from General Fund • $2.3 million from Special Revenue Funds About one-half of this increase is related to Enterprise Fund reserves and the renewed Riley County sales tax

  4. 2014 Budget Overview There were budget reductions and funding changes of about $844,700 or 1.743 mills since the first budget work session

  5. 2014 Budget Overview

  6. 2014 Budget Overview …and a proposed mill levy of …

  7. 2014 Budget Overview Increase in property taxes of $ 956,131

  8. 2014 Budget Overview Please recall that “new improvement taxes” are property taxes on new construction and additions that have never been taxed before.

  9. 2014 Budget Overview Based on Total Proposed City Mill Levy (43.439) An…. “increase in property taxes may be more of a function of market appraisal under Kansas law than it is local mill levy rates.” “The 2014 City Budget, as published, will see no increase in residential or commercial City property tax bills, presuming that a property did not experience an increase in market value.”

  10. 2014 Budget Overview City Enterprise Funds Water Fund – A rate adjustment discussion is planned this November after reviewing 3rd quarter revenues. Wastewater Fund – A rate adjustment of 3% for 2014 is proposed. Stormwater Fund – A rate adjustment of 3% for 2014 is proposed. Requires approval of a Charter Ordinance and 90-day waiting period.

  11. 2014 Budget Overview • Items to be approved/discussed before approving the 2014 City Budget • Recommend funding the Manhattan Arts Center of $43,700 from the General Fund (currently in the Economic Development Fund). • Recommend transferring a payment amount of $43,700 for the Airport terminal design from the Bond & Interest Fund to the Economic Development Fund. • Discuss a proposal to realign agency funding within the Social Services Advisory Board.

  12. Proposed Actions • Conduct a public hearing. • Approve first reading of the 2014 budget ordinance • Approve first reading of a charter ordinance amending stormwater rates. • Approve first reading of an ordinance amending wastewater rates. • Approve a finding that the 2014 Economic Development Fund satisfies the intent of resolution 082112-E.

  13. Questions? August 20th Second Reading of 2014 Budget Ordinances

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