San angelo city council 11 5-13 - wastewater pilot

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San angelo city council 11 5-13 - wastewater pilot

  1. 1. City Council November 5, 2013
  2. 2. 2013-14 Budget Wastewater Transfers Explanation: • Payment in lieu of taxes (PILOT) – when a municipality’s General Fund receives a payment from a non-profit, government entity, or enterprise fund to compensate for property tax that would have been required of a taxable entity • Municipalities are permitted to retain a reasonable return from other funds to support General Fund revenues
  3. 3. 2013-14 Budget Wastewater Transfers History: • In 2004, Water PILOT was discontinued per Council direction • No action was taken for the $500,000 Wastewater PILOT at that time
  4. 4. 2013-14 Budget Wastewater Transfers Calculation: Current PILOT is less than the computed PILOT per the formula: Calculation Methodology Wastewater Property Valuation Multiplied by Tax Rate Computed PILOT Budgeted PILOT Computed Over/(Under) Budgeted $87,754,559 x 0.00776 680,975 (500,000) $180,975
  5. 5. 2013-14 Budget Wastewater Transfers FY 2013-14 Budget: • Wastewater Fund Expense = $500,000 • General Fund Revenue = $500,000 • To reduce Wastewater PILOT, both General Fund revenue and expense must be decreased
  6. 6. 2013-14 Budget Wastewater Transfers Example • Reduce the wastewater transfer by $100,000 every year for five years • FY14 $500,000 • FY15 $400,000 • FY16 $300,000 • FY17 $200,000 • FY18 $100,000 • FY19 -0-
  7. 7. 2013-14 Budget Wastewater Transfers Example • Reduce the wastewater transfer by half every year for two years • FY14 $500,000 • FY15 $250,000 • FY16 -0-

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