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Overview of Fiscal Year 2013 Executive
Recommended BudgetBay County, Michigan
Prepared by:
Thomas L. HicknerBay County Executive
Kimberly PriessnitzAssistant Finance Officer
Crystal HebertFinance Officer
October 16, 2012
3
2013 Budget Highlights
•A balanced budget was submitted by the statutory deadline
•Total county spending for all funds $125M
•Total General Fund expenditures $33.6 M
October 16, 2012
5
2013 General Fund Revenues
Taxes
State G
rants
Other Finan
cing
Charges
Other Rev
enue
Federa
l Gran
ts
Interes
t / Ren
t
Fund Balance
Fines / F
orfeits
/ Perm
its $-
$2,000 $4,000 $6,000 $8,000
$10,000 $12,000 $14,000 $16,000 $18,000 $16,033
$3,804 $3,395 $2,856 $2,723 $1,872 $1,163 $1,040 $753
Thousands
October 16, 2012
48%
6
Bay County General FundProperty Tax Collections
2005 2006 2007 2008 2009 2010 2011 2012 2013 $12.0
$13.0
$14.0
$15.0
$16.0
$17.0
$18.0
$15.1
$15.9
$16.8 $17.4 $17.5
$16.8 $16.4
$16.1 $16.0
Millions
October 16, 2012
7
General Fund Property Tax Collections
2005 2006 2007 2008 2009 2010 2011 2012 2013
-4.0%
-3.0%
-2.0%
-1.0%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
3.4%
5.3%5.7%
3.6%
0.6%
-4.0%
-2.4%-1.8%
-0.6%
Percentage change from previous year
October 16, 2012
8
2013 – General Fund Revenues
•$1,150,000 transfer to the General Fund from the Delinquent Tax Revolving Fund
•Revenue Sharing increased 5.3% from 2012
October 16, 2012
9
2013 – General Fund Revenues
•Register of Deeds: Recording and Transfer Tax Fees = $385,000
•Other Financing Sources: Transfer in $324K from Self Insurance Healthcare Fund
October 16, 2012
11
2013 – General Fund Expenditures
Wages
Fringes
Other ch
rg/se
rv
Transfe
rs out
Supplies
Utilitie
s
Contributio
ns
Capita
l cost
> $5K
$-
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000 $13,752
$7,458
$4,921 $4,216
$1,151 $1,071 $832 $237
Thousands
October 16, 2012
Wages + Fringes = 68%
12
General Fund Expenditures by Function
October 16, 2012
32.80%
25.08%
19.96%
9.24%
5.08% 4.93% 2.31% 0.58% 0.03%
13
Other General Fund Expenditure Factors
•Health Insurance Active employee and retiree health insurance is $4.7M, which includes a projected increase of $328K
•Health Cost Reducing Measures - EHiM Drug Plan- Co-Pay Scale
October 16, 2012
14
General Fund Expenditures Retirement System
•As of December 31, 2011, the General Group in the retirement system has a funded ratio of 106.7%; as a result, the recommended employer contribution to the pension system is 4.08% of payroll beginning January 1, 2013. This recommendation is a result of the most recent actuarial study.
October 16, 2012
15
General Fund Expenditures Retirement System (Continued)
•As of December 31, 2011, the Sheriff Group in the retirement system has a funded ratio of 120.1%. As a result, no employer contributions to the pension system are required for 2013. Due to the funding level going below 125%, the employee contribution for 2013 will be reverted to the retirement system.
October 16, 2012
16
Retirement Fund Balances
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 41183 $50.0
$70.0
$90.0
$110.0
$130.0
$150.0
$170.0
$190.0
$210.0
$230.0
$250.0 Millions
October 16, 2012
17
Percentage Funding Level of Pension Funds
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011100%
110%
120%
130%
140%
150%
160%
170%
180%
190%
147%
136%
152%
135%132% 131% 132%
122%
112%107%
157%
172%
158% 156%151% 153%
138%134%
129%
120%
October 16, 2012
Blue(left) = General Group Red = Sheriff’s Group
18
2013 General Fund - Contributions
•Bay Arenac Behavioral Health Authority - $682 K
•Bay Futures - $50K Specific expansion/attraction efforts, $25K, provided a specific business plan is submitted and approved by the Board of Commissioners
October 16, 2012
19
2013 Major Transfers Out
•Health Department - $1.043M
•Juvenile Home - $502K
Note: Other Child Care programs funded by the General Fund – $557K
October 16, 2012
20
2013 Major Capital Expenditures
•Buildings and Grounds $ 20,000•Information Systems $ 270,710•Sheriff $ 149,742•Pinconning Park (Grant funded) $ 137,000
October 16, 2012
21
General and Budget Stabilization Fund Balances
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 $-
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
October 16, 2012
Green: Budget Stabilization Fund Blue: Assigned Fund Balance
Millions
23
Recommendations•Maintain a status quo budget.•Use approximately $970K from Fund Balance
to service the 2013 debt requirements. At the end of 2016, Bay County’s primary government debt will be serviced.
•Maintain 5%-15% reserve level in the Budget Stabilization Fund. Current reserve is at the maximum level of 15%.
•This approach strikes a balance between the needs of the citizens of Bay County and its employees, while ensuring fiscal responsibility and excellent service to the community.
October 16, 2012
24
Recent Developments in Bay County
•Uptown at River’s Edge – City of Bay City: $50M - 500+ Jobs
•Dow Corning - Williams Township: $117M Investments - 73 Jobs
October 16, 2012