2012 Financial Plan (Public Hearing - March 5, 2012)

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A presentation given by Dean Hammond, Treasurer and General Manager of Corporate Services with the City of Brandon

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2012 Financial Plan (Public Hearing - March 5, 2012)

  1. 1. 2012 FINANCIAL PLAN PUBLIC HEARING March 5, 2012 Dean Hammond, Treasurer & GM of Corporate Services 1
  2. 2. AGENDA 2012 Operating Revenues / Expenditures 2012 Capital Expenditures Debt Position & Debt Ratios Residential Tax Impact Utilities / Utilities Capital Expenditures Next Steps Expense Management 2
  3. 3. PROPOSED OPERATING / UTILITIES BUDGETS General Revenues / Expenditures $73.1m Utilities Revenues / Expenditures $17.7m Total Budget $90.8m 4.44% Mill Rate Decrease From 2011 3
  4. 4. REVENUES - $73.1m $3.2 , 4% $1.1 , 2%$11.7 , 16% Property Taxes Government Transfers $36.9 , 50% User Fees and Sales of $20.2 , 28% Goods Permits, Licenses, and Fees Other Income 4
  5. 5. EXPENSES - $73.1m $2.6 , 4% Salaries, Wages, & $1.6 , 2% $2.9 , 4% Benefits Reserve Appropriations $4.1 , 6%$5.5 , Contract Services 7% Grants and Contributions $7.4 , 10% $41.5 , 57% Materials, Supplies, & $7.5 , 10% Equipment Purchases Debt Servicing Costs Utilities Capital Contributions 5
  6. 6. Utilities, $0.04 Capital Debt Servicing Contributions,Materials, Supplies, & Equipment EXPENSES - $73.1m Costs, $0.04 $0.02Purchases, $0.06AdministrativeSalaries, $0.06 Protective Services Salaries, $0.26 Grants andContributions, $0.07 Operations Salaries, $0.17 DevelopmentServices Salaries, Contracted Reserve $0.08 Services, $0.10 Appropriations, $0.10 Where Every Dollar of Tax Goes... 6
  7. 7. 2012 CAPITAL EXPENDITURE HIGHLIGHTS (Reserve Funded)2012 Total Capital Upgrades $9.4m8TH Street Bridge Analysis $300kCentennial Auditorium Door Replacements $80kLandfill Excavation & Liner $275kVehicle Replacements - Four Loaders $1.0m - Airport Fire Truck $650k - Five Dump Trucks $735k - Other Vehicles (24) $1.65m 7
  8. 8. 2012 CAPITAL EXPENDITURE HIGHLIGHTS (Reserve Funded)Fire Equipment $336kFire Pumper Truck / Ladder Refurbish $550kSidewalks / Turn Signals / Kirkaldy Dr. $435kUpgradesParks Upgrades $115kPolice Equipment $491kPolice Vehicles (7 Replacements) $342kRec Centre Upgrades $225kSportsplex Upgrades $117k 8
  9. 9. 2012 CAPITAL EXPENDITURE HIGHLIGHTS (Reserve Funded)Transit Auto-Fare System $500kHandi-Transit Bus Replacements (Four) $565kDrainage Projects $475k 9
  10. 10. 2012 CAPITAL EXPENDITURE HIGHLIGHTS (General Fund)2012 Total Capital Upgrades $589kExpand Community Alerting System $42kWalkways / Trails Expansions $100kBlack Property Land Use Study $150kDrainage Project – 34th Street $167k 10
  11. 11. DEBT 2012 General (Tax Supported) Debt* $30.8m 2012 Utility Rate Supported Debt $4.7m 2012 Total Debt $35.5m 2012 Debt Position Decreased Slightly.* Including Police Station 11
  12. 12. 22% 21% 20.0% 20% 19% DEBT 2012 Debt Position 18% 17% 16% Actual City Debt Ratio 15% 14% Maximum Allowable Debt Ratio 13% 12%% 11% 10% 9% 8% 7.0% 7% 6% 5.4% 5% 4% 3% 1.8% 2% 1% 0% Debt / Assessment Debt Service Costs / City Revenues 12
  13. 13. RESIDENTIAL TAX IMPACTMunicipal Tax Payer Impacts 2011 2012 Budget BudgetAssessed Value* $ 200,000 $ 219,600Portioning @ 45% $ 90,000 $ 98,820Municipal Mill Rate 19.969 19.082Municipal Tax Due $ 1,797 $ 1,886Change due to Assessment* $ 176.13Change due to Mill Rate $ (87.62)Total Change from 2011 $ 88.51Percentage Increase 4.9% 13
  14. 14. RESIDENTIAL TAX IMPACTSchool Division Tax Payer Impacts 2011 2012 Budget BudgetAssessed Value* $ 200,000 $ 219,600Portioning @ 45% $ 90,000 $ 98,820Municipal Mill Rate 16.270 15.375Municipal Tax Due $ 1,464 $ 1,519Change due to Assessment* $ 143.50Change due to Mill Rate $ (88.43)Total Change from 2011 $ 55.07Percentage Increase 3.8% 14
  15. 15. RESIDENTIAL TAX IMPACT Combined Municipal & School 2011 2012 Change Division Budget BudgetMunicipal Tax Due $ 1,797 $ 1,886 $ 88.51School Division Tax Due $ 1,464 $ 1,519 $ 55.07less: Homeowner Rebate $ (700) $ (700) $ -Total Taxes Due $ 2,562 $ 2,705 $ 143.58 15
  16. 16. 2012 UTILITIES Utilities Budget decreased $400k to $17.7m Treasury & Engineering Currently Undertaking Rate Structure Analysis AnticipatingPUB Proposal For Q3 which will be incorporated in 2013 NewRates Will Incorporate Phase III of Combined Wastewater Treatment Facility 16
  17. 17. 2012 CAPITAL EXPENDITURE HIGHLIGHTS (UTILITY RESERVE)2012 Total Utility Reserve Capital Upgrades $8.6mWTF Emergency Water Supply $1.5m3rd Street Dam Replacement $1.0mWTF Upgrades $250kConstruction Contribution for IWWTF $5.7mLarge Sewer Camera $100k 17
  18. 18. 2012 CAPITAL EXPENDITURE HIGHLIGHTS (UTILITY FUNDED)2012 Total Utility Funded Capital Upgrades $800kWatermain Replacements $300kWater Treatment Facility Master Plan Study $100kWater Treatment Facility Intake Structure $250k 18
  19. 19. NEXT STEPS of Financial Plan and 1st Adoption Reading of Tax Levy By-law March 5th 2nd & 3rd Readings of Tax Levy By-law March 19th 19
  20. 20. 2012 / 2013 EXPENSE MANAGEMENT 3% Goal  Lean Projects  Opportunities List (28)  New / Expanded Revenues  Sustainable Cost Reduction Measures  Budget Buddies Vacancy Management / Succession Planning / Long-Term Labour Strategies Performance Management Budgeting Process  Separate Capital, Fleet, & Operating Budgets  Budget Reviews / Budget Buddies 20
  21. 21. Questions? 21

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