Annual Revenue Survey February 12, 2013 1 In preparation for the 2014 City Budget.

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Presentation transcript:

Annual Revenue Survey February 12, In preparation for the 2014 City Budget

City Budget Revenues City Budget of $121,804,142 Reminder: Pages 53 and 54 of the published 2013 City Budget discuss growth rates and assumptions of major revenue sources. This information is also available online.

Beginning Cash Balances 3 All budgeted funds (estimated) 27,667,00732,880,61035,729,94534,000,000 In 2013, this increase primarily comes from two funds: $1,908,790 ~ EcoDevo Fund $1,673,871 ~ Bond & Interest fund

Major Revenue Sources Property Taxes 4 Property Taxes – From 2012 to 2013, the total increase in property taxes was $918,727. Of this amount, City Services had no increase and only $76,431 increase was attributed to the Bond & Interest Fund. RCPD and Library Bond & Interest City Services

Major Revenue Sources Sales Taxes Major Revenue Sources Sales Taxes 5 Sales Taxes – In 2012, The City’s 1 ₵ sales tax increased 5.7% over 2011, including an increase of about 5.8% over what was budgeted for Amount Budgeted

6 General Fund Revenues 2013 General Fund Budget of $25,993,571

Actual2013 Budget 2014 Projected 2015 Projected General Fund Beginning Cash Balance 2,762,098 2,500,000 Property Taxes 1,071,566 1,097,977 1,718,416 2,726,692 Sales & Use Taxes 8,437,420 8,406,996 8,929,315 9,185,784 Sales Tax Transfer 2,186,000 2,923,313 3,019,607 2,860,935 Franchise Fee 2,891,408 2,902,849 2,945,357 3,002,363 Special Liquor Tax 418, , , ,040 User Fees & Licenses 4,744,223 4,568,935 4,816,088 4,803,020 Other Revenues 884, , , ,439 Other Transfers 2,548,514 2,419,951 2,428,237 2,477,487 TOTAL REVENUE 25,943,698 25,993,571 27,520,507 28,727,760 General Fund Revenues

Total Debt Forecast 71,645,000 66,567,676 74,772,324 53,993,410 1,908,335 3,399,505 34,845,146 50,800,000 41,861,977 84,399,537 11,427,214

2012 Total Debt = $268,886,745

2013 Total Debt = $262,332,038

2014 Total Debt = $263,020,695

2015 Total Debt = $263,879,052

2016 Total Debt = $247,689,183

2017 Total Debt = $232,569,524

2018 Total Debt = $226,733,379

Base Scenario – No New Debt 250,435,809232,539,255213,444,638194,160,988174,686,147 1) $5 Million Issued Annually 255,435,809242,124,255227,179,638211,595,988195,351,147 2) $10 Million Issued Annually 260,435,809251,704,255240,909,638229,025,988216,016,147 3) $15 Million Issued Annually 265,435,809261,289,255254,644,638246,460,988236,681,147 4) $20 Million Issued Annually 270,435,809270,874,255268,384,638263,905,988257,361,147 $9 Million - City 5 Yr Average 259,435,809249,789,255238,164,638225,540,988211,881,147 Current Total Debt = $268,886,744

1) $5 Million Issued Annually

Cities of the G.O. Debt First ClassPopulationMill LevyValuationDec. 31, 2011per Capita Hutchinson42, ,410,79131,014, Kansas City145, ,989,485282,040,0001,935 Lawrence87, ,047,98185,145, Leavenworth35, ,460,64427,415, Leawood31, ,991,63644,112,9001,384 Lenexa48, ,749,07183,605,0001,735 Manhattan (2013 data)54, ,982,05345,133, Salina47, ,354,5767,345, Shawnee62, ,168,44886,165,0001,385 Comparative Data

Commissioner Feedback Revenue Projections Expenditures Commissioner Priorities for First Budget Work Session May 14th