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					City of Fostoria
Financial Status
    2005-2006
 Presented to Finance Committee
          February 2006
                    Overview
City staff and council have worked diligently to manage
expenditures to coincide with revenue

The tax rate has remained constant @ 2.00% since 1998

Tax collected has fluctuated from $5,135,497 – $5,759,435

City’s commitment to provide services for the needs of its
citizens continues

Staff and council are planning and working for continued fiscal
responsibility
       2005 in Review for the Municipal Budget

                                  Actual              Budget



 Total Income                $17,838,402          $16,086,504


 Total Expenses              $16,589,710          $15,401,794


 Net Income                  $ 1,248,692            $684,710



                    Accomplishments

Received State performance audit report on safety forces

Numerous upcoming/ongoing projects throughout the city

Engaged external legal council for negotiations
   2005 in Review for the General Fund Budget

                                 Actual              Budget



Total Income                 $8,248,532           $7,143,508


Total Expenses               $7,307,842           $6,964,656


Net Income                    $ 940,690            $178,852



                   Accomplishments

Significant increase in tax revenue ($509,435)

Healthy carryover ($800k+)

Working various ad-hoc projects within the city
               CITY INCOME TAX COMPARISION 1998 – 2005



YEAR TAX %          AMT COLLECTED

1998   2.00%        5,135,497
1999   2.00%        5,589,995
2000   2.00%        5,675,283
2001   2.00%        5,496,130
2002   2.00%        5,289,442
2003   2.00%        5,249,872
2004   2.00%        5,326,745
2005   2.00%        5,757,633
2006   2.00%        5,450,000 (estimate)
                   Municipal Tax

5800000
5700000
5600000
5500000
5400000
5300000
                                                         CIT
5200000
5100000
5000000
4900000
4800000
          1998 1999 2000 2001 2002 2003 2004 2005 2006
                                                                                           Police
                                                                                           Fire & EMS
                                                                                           Street Lights
                                                                         '06 GF Budget %   Traffic Signs
                                                                                           Animal Control
                                                 0.3%                                      General Security
                                                        0.6%
                                                               0.4%                        Cemetary
                                              0.3%
                                                                  0.4%                     County Health
                                       4.6%     1.5%
                                1.4%
                              0.2%                                                         Zoning
               14.0%                                                            34.2%      Engineering
           1.5%
                                                                                           Community planning
         1.8%
 0.3%                                                                                      Mass Transit
 0.3%                                                                                      Mayor's Office
 0.6%
                                                                                           Legislation
0.5%
0.7%                                                                                       Clerk of Council
0.6%                                                                                       Legal
0.6%                                                                                       Auditor's Office
                       1.6%                                    29.3%
0.4%                                                                                       City Income Tax
2.6%                                                                                       Treasurer's Office
 0.9%                                                                                      Municipal Court
  0.0%                                                                                     Clerk of Court
 0.6%
                                                                                           Land and Buildings
                                                                                           Boards & Commissions
                                                                                           County Auditors
                                                                                           Accounting Assistance
                                                                                   $-
                                                                                        $50,000.00
                                                                                                     $100,000.00
                                                                                                                   $150,000.00
                                                                                                                                 $200,000.00
                                                                                                                                               $250,000.00




$(200,000.00)
                $(150,000.00)
                                     $(100,000.00)
                                                           $(50,000.00)
                                                                          Police

                                                        Fire & EMS

                                                      Street Lights

                                                      Traffic Signs

                                                     Animal Control

                                      General Security
                                                                                                                                                             GF Change '05-'06




                                                         Cemetary

                                                     County Health

                                                                    Zoning

                                                       Engineering

                                  Community planning

                                                      Mass Transit

                                                     Mayor's Office

                                                        Legislation

                                             Clerk of Council

                                                                          Legal

                                              Auditor's Office

                                           City Income Tax

                                    Treasurer's Office

                                              Municipal Court

                                                     Clerk of Court

                                   Land and Buildings

                                Boards & Commissions

                                           County Auditors

                                Accounting Assistance

                                     Legal Assistance

                                General Administration
       2005 in Review for the Enterprise Funds

                                Actual                 Budget



Total Income                $4,618,163              $4,348,350


Total Expenses              $4,389,624              $4,694,319


Net Income                  $ 228,539               $- 345,969



                   Accomplishments

Maintained ample water supply

Maintained the water pressure throughout the city

Focus is on Clean Water Compliance
                       Financial Position
Investment Account (STAR) – General Investment - Balance             $941,345.11
                                                 Interest            $ 28,412.54
Investment Account (STAR) – Revolving Loan Funds - Balance           $371,584.57
                                                 Interest            $ 67,509.00
CITY OF FOSTORIA Operating accounts              Balance            $2,864,223.40
                                                 Interest            $ 27,180.72

Water Department Investment Accounts (CDs) - with no restrictions             $0


Sewer Department Investment Account (CWA) - with restrictions                 $0


Water Department Operating accounts              Balance             $999,117.52
         2006 Budgets
General Fund                '06 Budget


Total Income                $7,425,280


Total Expenses              $7,419,727




Water – Sewer Departments   '06 Budget


Total Income                $4,461,350


Total Expenses              $4,397,374
         2006 Budgets cont.
        Some of the items that make up the budget:

FPD & FFD manning levels at 25 & 23 respectively

Opening & operating the pool

Hiring a part-time Park & Recreation Director

Police Chief Car and three new cruisers

Fire Department replacement of Pumper #91 (100k)

Street Department dump truck & salt truck (under review)

Sewer Department backhoe & vactor (under review)
       2006 Budgets cont.
                 2005 Carryover:

Operations                         $118,450

Capital Assets                     $200,000

Loop Road Project                  $100,000

Contingency Fund                   $400,000
                                   $818,450

				
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