Popular Annual Financial Report, City of Cleveland for Political Science 560: Public Financial Administration
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A Popular Annual Financial Report (PAFR) is a summary of the financial activities of the City's governmental funds and is drawn from information found mainly in the CAFR. Unlike the CAFR, the PAFR is unaudited and presented on a non-GAAP basis.
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Popular Annual Financial Report, City of Cleveland for Political Science 560: Public Financial Administration
- 1. City of Cleveland, Tennessee PAFR POPULAR ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED JUNE 30, 2016 Presented by Laura Humphrey, Michael Porter, and Evan Williams
- 2. Cleveland, TN • The resources that were important to the founding settlers are still important to the citizens today • Cherokee • Commerce • Chattanooga Source: Budget, I
- 3. “PROVIDE FOR THE WELFARE OF ALL CITIZENS THROUGH EFFICIENT, HIGH QUALITY SERVICES, SOUND LEADERSHIP, AND PROGRESSIVE PLANNING FOR THE FUTURE.” Mission of Cleveland, TN Source: Budget, I
- 4. Mission • Efficient, high quality services • Renovations to the Cleveland Regional Jetport, Public Library, Cleveland City School Gym, and City Greenways • Sound leadership • No property tax raise since FY14, privatizing services when necessary (e.g., Waterville Golf Course) • Maintain unassigned fund balance • Progressive planning for the future • Building Spring Branch Industrial Park
- 5. Sources of Revenue Taxes 44% Intergovernmental Revenue 49% Fees/Charges 7% Source: (CAFR, 154-155)
- 6. Major Revenue Trends in Cleveland, TN, FY 06-16 $0 $10,000,000 $20,000,000 $30,000,000 $40,000,000 $50,000,000 $60,000,000 $70,000,000 06 07 08 09 10 11 12 13 14 15 16 CollectedRevenue Fiscal Year Local Sales Tax Collected Property Tax Levied Intergovernmental Revenues Source: CAFR, 154-155
- 7. 2014 Property Tax Rate Comparison for Tennessee Cities with K-12 School $2.60 $2.39 $2.25 $2.24 $2.17 $2.08 $2.05 $2.01 $1.78 $1.77 $1.58 $0.00 $0.50 $1.00 $1.50 $2.00 $2.50 $3.00 Tullahoma (18,739) Oak Ridge (29,320) Bristol (26,675) Dyersburg (17,043) Maryville (27,914) Mean (10 Cities) Greenville (15,024) Kingsport (51,501) Elizabethton (14,204) Cleveland (42,386) Johnson City (64,528) Source: Budget, xviii
- 8. How is the Money Spent? Source: Budget, 96 Police Department, 21.4% Fire Department, 19.5% Street lights and Signals, 3.4% Transfer to School General Fund, 12.1% All Other Expenditures, 44.1%
- 9. Unassigned Fund Balance • Unassigned Fund Balance is like a safety net for the city, projecting the city from unforeseen emergencies • In FY16 the unassigned fund balance was $10,800,152 Source: CAFR, 152-153
- 11. 6.3% 2010-2015 YEAR PROPERTY TAX COLLECTED 2011 16,566,883 2012 16,221,941 2013 16,573,255 2014 18,687,629 2015 19,165,037 Property Tax Rate = $1.77
- 12. Big Business
- 13. Goals and Performance • Attract 6 Retail Businesses & 5 Restaurants • Increase the Number of Jet Hangars • Reduce Police Response Time to under 7 minutes • Aggressively Recruit Industry • Increase Green Footprint • Maintain Property Saved from Fire
- 14. FY2016 Annual Financial Comparison Government Measurement Cleveland Johnson City Oak Ridge Bond Rating (Standard and Poor's) AA AA- A Property Tax Rate - City $1.77 $1.87 $2.39 Property Tax Rate - City and County $3.64 $3.85 $4.74 Income Per Capita $23,066 $27,619 $31,491 Population 41,285 65,813 29,303 Unemployment Rate 4.9% 4.9% 4.6% Source: Cleveland FY 16 CAFR, Johnson City FY 16 CAFR, Oak Ridge FY 16 CAFR
- 15. Opportunities and Challenges Opportunities • Accessible higher education • High credit rating • Major economic development project • Low unemployment rate Challenges • Low wage jobs • Per Capita income is $23,066
Editor's Notes
- The Cleveland area is rich in Cherokee heritage due to its vicinity to the Cherokee National Forest. The mountains, abundance of streams, such as the Ocoee and Hiwassee rivers, and temperate seasonal climate (City-Data, 2017) provided an abundance of resources for settlers. These mountain and stream resources today have become a tourism provision for the city. Downtown Cleveland is said to developed around an early settler, Andrew Taylor, who along with his Cherokee wife welcomed travelers into their home known as “Taylor’s Place” Today, Cleveland and Chattanooga, being fellow corridor counties on interstate 75 to the large metro area of Atlanta, benefit from one another due to each city’s unique resources and proximity, encouraging growth in population, tourism, and industry.
- Efficiency in spending (decrease in user fees); haven’t raised property taxes; capitalize on bringing in industry. Jet Port Renovated the library Renovated School Gym Renovated Park and Greenway? Spending; fund balance; conservative spending; decision making Unassigned fund balance Performance measures and goals and objective; industrial parks (continued); five new eateries a year
- 3.4%, 1.5 million, was spent on road, sidewalk and drainage infrastructure were improved and street lighting and signals were improved. 12.1%, 5 million dollars, was spend on City of Cleveland Schools maintaining services while giving teachers a 2% raise Total expenditures for the Education Department is over $44 million, but funding is supported at the county, state, and federal levels in addition to the city 40.9%, 17.6 million, was spent on salaries for firefighters and police officers, buying additional police patrol cars, as well as equipment and training for firefighters
- Cleveland is positioned as a corridor on I-75 near Chattanooga with access to the Atlanta metropolitan area with the tourism benefits of the Smokey Mountains and Ocoee River. The Cleveland City government has capitalized on the corridor by setting objectives and meeting performance measures like restaurant growth to increase sales tax revenues.
- The Cleveland corridor is not just a way to benefit from tourism revenues, but commuters, industry, and migrators who want to take advantage of the low property taxes Cleveland provides to drive industry into the region.
- Cleveland continues to aggressively recruit business and industry into the city as an objective. The benefit for citizens is small town living with nationally recognized Fortune 500 company employment.
- Chattanooga are stealing jobs; Low wage jobs; Education, lead is a free community college, UTC. Build transition for people to get higher end wages