1. City Council Finance Committee
Thursday, October 21, 2010

2. Overall net direct debt will not exceed 10% of assessed valuation.
FY13 ESTIMATED Assessed Valuation: $ 3,339,427,199 x 10% = $333,942,720
Overall FY13 ESTIMATED net direct debt: $6,339,045 or 1.7%
Total General Fund general obligation debt service and capital spending (including debt
exclusion and capital exclusion overrides) will not exceed 10% of General Fund operating
revenues.
Total ESTIMATED General Fund $77,479,577 - Interfund Transfers, Reserves and State
Off-set Receipts = $68,746,211. Debt to Operating Ratio 8.2%
General Fund levy-supported general obligation debt service and capital spending (exclusive
of dedicated revenue sources such as debt exclusion and capital exclusion overrides, state reimbursements, parking
system receipts, etc.) will not exceed 5% of net General Fund operating revenues.
Levy-Supported Debt Service and Capital Spending (within Levy Limit) as a % of net
General Fund operating revenues: 2.6%

3. $3,000,900
$32,595,709
$8,896,500
$3,910,000
$20,335,500
$2,443,600
$-
$5,000,000
$10,000,000
$15,000,000
$20,000,000
$25,000,000
$30,000,000
$35,000,000
Culture and Recreation Education General Government Human Services Public Safety Public Works

4. $3,910,000
$1,358,000
$500,000
$6,500,000
$22,516,209
$29,428,000
CDBG Comcast I-net CPA Energy Savings General Fund Override

5. $377,000
$33,054,609
$7,128,000
$2,121,500 $1,772,000
$23,408,600
$1,802,000 $1,518,500
Acquisition Building
Renovation
Energy Equipment Infrastructure
Improvements
New Building Repair/Renovation Vehicle

6. •Planning began in 1994 under during the Ford administration
•Joint Police/Fire facility studied in 1995 as a part of the planning for the new Fire Station
•ruled out because of the cost of land in the downtown area
•City Council funded Police Facility Needs Assessment in 2003
•Capital Improvements Committee recommends funding for construction in FY 2006
•City Council Funded Design/Build process in 2007
•Cost of the new station is estimated at $17 million in 2008
•Economic downturn impacts the City’s ability to fund the station’s construction under the City’s
current Debt Ceiling
•City unsuccessfully looks for outside funding (e.g. Federal stimulus grants)
•Council votes to put the override question to the voters in 2010

7. $-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
FY
2004
FY
2005
FY
2006
FY
2007
FY
2008
FY
2009
FY
2010
FY
2011
FY
2012
FY
2013
FY
2014
FY
2015
FY
2016
FY
2017
FY
2018
FY
2019
Debt Exclusion Override (JFK) Debt Exclusion Override (High School) Debt Exclusion Override (Fire Station)

8. $0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
FY 2004 FY 2005 FY 2006 FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020
Debt Exclusion Override (JFK) Debt Exclusion Override (High School)
Debt Exclusion Override (Fire Station) Debt Exclusion Override (Police Station)

9. Fiscal
Year
Estimated
Amount Added
to the Tax Rate
Tax Rate Decline
from Expiring Debt
Overrides
Estimated Net
Tax Rate
Increase
Estimated Annual Override cost
on the average Single Family
Home ($315,957 in 2013)
2013 $0.27 ($0.04) $0.23 $72.36
2014 $0.26 ($0.04) $0.22 $69.72
2015 $0.25 ($0.04) $0.21 $67.09
2016 $0.24 ($0.03) $0.21 $68.68
2017 $0.23 ($0.03) $0.20 $68.47
2018 $0.22 ($0.03) $0.19 $66.35
2019 $0.21 ($0.05) $0.17 $57.73
2020 $0.21 ($0.03) $0.17 $60.59
2021 $0.20 $0.20 $70.01
2022 $0.19 $0.19 $68.12
2023 $0.18 $0.18 $66.23
2024 $0.17 $0.17 $64.34
2025 $0.17 $0.17 $62.45
2026 $0.16 $0.16 $60.55
2027 $0.15 $0.15 $58.66
2028 $0.14 $0.14 $56.77
2029 $0.14 $0.14 $54.88
2030 $0.13 $0.13 $52.98
2031 $0.12 $0.12 $51.09
2032 $0.12 $0.12 $49.20
$1,246.26Total Cost of Override