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CITY OF MILAN FY 2015-16 BUDGET
May 18, 2015
FUNDS OF THE CITY
• General Fund
• Special Revenue Funds
• 911
• Major Streets
• Milan Youth Football
• Rubbish Collection...
FUNDS OF THE CITY
• Debt Service Funds
• Northside SAD Debt Service
• Arkona Road Reconstruction SAD Debt Service
• Arkona...
FUNDS OF THE CITY
• Enterprise Funds
• Mooreville Sewer Fund
• Water Fund
• Sewer Fund
• Storm Sewer Fund
• Component Unit...
FUNDS OF THE CITY
• Trust and Agency Funds
• Trust and Agency Fund
• Delinquent Tax Fund
• Monroe County Tax Fund
• Washte...
FUNDS OF THE CITY
• 17 funds will be closed with the FY 15-16
Budget.
• Five funds were closed this year.
GENERAL FUND
• Covers the majority of city operations, including
Police, Fire, Department of Public Works, City
Hall, Buil...
MAJOR AND LOCAL STREETS
• Covers maintenance, snow removal, and
reconstruction of streets.
• Primarily funded through stat...
MAJOR AND LOCAL STREETS
• Street Projects for FY 2015-16
• Redman Rd./S.Platt Rd. intersection
improvement
• North St. bet...
MILLAGE RATES
• 15.4 City operations (1 mil to the street
funds)
• .5 Senior Millage (voter approved)
10.3304
13.1555
15.7...
STREET MILLAGE
• This only fulfills approx. ¼ of the funding gap
identified in our asset management plan to
keep the major...
STREET MILLAGE
• Consequences of not including 1 mil towards
streets in FY 2015-16:
• Over $60,000 from general fund balan...
OTHER RATES
• Water/Sewer
• Rates remain the same for city users.
• Rates will be adjusted for non-city users to be
consis...
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City of milan fy 2015 16 budget

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City of Milan FY 2015/2016 Budget

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City of milan fy 2015 16 budget

  1. 1. CITY OF MILAN FY 2015-16 BUDGET May 18, 2015
  2. 2. FUNDS OF THE CITY • General Fund • Special Revenue Funds • 911 • Major Streets • Milan Youth Football • Rubbish Collection • Grant Fund • Drug Enforcement • Volunteers in Police Services
  3. 3. FUNDS OF THE CITY • Debt Service Funds • Northside SAD Debt Service • Arkona Road Reconstruction SAD Debt Service • Arkona Road Traffic Control Imp SAD Debt • Southside Trunk Sewer SAD Debt • Uptown Village Special Assess District • Capital Project Funds • Pavilion • Capital Improvement Fund
  4. 4. FUNDS OF THE CITY • Enterprise Funds • Mooreville Sewer Fund • Water Fund • Sewer Fund • Storm Sewer Fund • Component Units • Economic Development Corp Fund • Downtown Development Authority • Brownfield Redevelopment Authority
  5. 5. FUNDS OF THE CITY • Trust and Agency Funds • Trust and Agency Fund • Delinquent Tax Fund • Monroe County Tax Fund • Washtenaw County Tax Fund • Mobile Home Specific Tax • Payroll Clearing Fund
  6. 6. FUNDS OF THE CITY • 17 funds will be closed with the FY 15-16 Budget. • Five funds were closed this year.
  7. 7. GENERAL FUND • Covers the majority of city operations, including Police, Fire, Department of Public Works, City Hall, Building Department, Parks and Recreation, Senior Citizen services, maintenance, IT, Treasurer, Clerk, etc. • Current FY 2014-15 budget was amended on April 27th to reflect a decrease in revenues of $265,000 which was due to an error occurring in 2014. • As a result of the error in revenues recently discovered, $172,517 in fund balance is being used to balance the FY 2015-16 budget. • General Fund will is budgeted to end with a fund balance of over $1,000,000.
  8. 8. MAJOR AND LOCAL STREETS • Covers maintenance, snow removal, and reconstruction of streets. • Primarily funded through state revenue. • Grant funding received for North Street and Platt Rd/Redman intersection improvements. • 1 mil proposed for additional city funding. • Major streets FY 2015-16 estimated ending fund balance of $112,327 • Local streets FY 2015-16 estimated ending fund balance of $37,447
  9. 9. MAJOR AND LOCAL STREETS • Street Projects for FY 2015-16 • Redman Rd./S.Platt Rd. intersection improvement • North St. between First St. and E Michigan Ave. • Ferman St. between E. Second St. and E. Michigan Ave. • Ann St. between North St. and Ferman St. • Corrective action on Wabash Rd. (in conjunction with the Monroe County Road Commission). • Crack sealing will continue in FY 2015-16
  10. 10. MILLAGE RATES • 15.4 City operations (1 mil to the street funds) • .5 Senior Millage (voter approved) 10.3304 13.1555 15.7594 15.9 16.2114 17.1501 21.2574 23.4814 Millage rates with 1 mill for streets Luna Pier Chelsea Saline Milan Monroe Ann Arbor Petersburg Ypsilanti
  11. 11. STREET MILLAGE • This only fulfills approx. ¼ of the funding gap identified in our asset management plan to keep the majority of our roads in ‘good’ to ‘fair’ condition. • Other sources of funding are still needed • The city will continue to aggressively seek grant funding. • State action is still pending.
  12. 12. STREET MILLAGE • Consequences of not including 1 mil towards streets in FY 2015-16: • Over $60,000 from general fund balance would be needed to cover expenses in this fund, resulting in the general fund balance dipping below $1,000,000 and/or, • A street project or projects would need to be cancelled.
  13. 13. OTHER RATES • Water/Sewer • Rates remain the same for city users. • Rates will be adjusted for non-city users to be consistent with city code. • Rubbish fee remains the same. • Tap-in fees remain unchanged.

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