Agenda 1) Process Overview 25 Min. 2) Budget Presentation 60 Min. 3) Budget Priorities 25 Min. 4)...
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Agenda 1) Process Overview 25 Min. 2) Budget Presentation 60 Min. 3) Budget Priorities 25 Min. 4) Next Steps 10 Min. Committee of the Whole Workshop February 22, 2012 1
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Transcript of Agenda 1) Process Overview 25 Min. 2) Budget Presentation 60 Min. 3) Budget Priorities 25 Min. 4)...
Agenda
1) Process Overview 25 Min.
2) Budget Presentation 60 Min.
3) Budget Priorities 25 Min.
4) Next Steps 10 Min.
Committee of the Whole WorkshopFebruary 22, 2012
1
Activity Date(s)
COW Meetings (5) Feb. 8 – Mar. 28
Next meeting: Debt Service, Capital & Pension Mar. 8
Budget due to Council Apr. 16
Public Hearing and Dept. Hearings Apr./May
Budget due to Mayor from Council May 21
Final Adoption (no later than) May 31
Interactive Budget Process
2
Presentation Objectives
3
> City of Hartford Financial Overview
> Preliminary 2012-13 Budget
City of Hartford Financial Overview
4
> Ratios, A Snapshot Comparison
> Revenues
> Expenses
Adopted Budget History
5
Net Grand List As % Of Gross Grand ListCombined Average Assessment Ratio Across All Property Categories
In Affect The “Tax Yield”
30 35 40 45 50 55 60 65 70
New Britain
Waterbury
Bridgeport
West Hartford
New Haven
Hartford 47%
Source: State of Connecticut, Office of Policy & Management, Municipal Indicators FY 20106
MUNICIPALITY RES COMM OTH
Bridgeport 56.1 25.9 18.0
Hartford 22.2 51.0 26.8
New Britain 61.8 22.4 15.8
New Haven 52.2 34.9 12.9
Waterbury 55.6 28.2 16.2
West Hartford 75.6 14.6 9.8
% Net Grand List Assessment By CategoryPercent of Total Assessed Property By Category
Source: State of Connecticut, Office of Policy & Management, Municipal Indicators FY 20107
Debt As % of Total ExpendituresTotal Debt Expense Divided By Total City Expenses
0 20 40 60 80 100 120 140 160
Bridgeport
New Haven
New Britain
Waterbury
Hartford
West Hartford
55%
Source: State of Connecticut, Office of Policy & Management, Municipal Indicators FY 20108
Debt Service As % of Total ExpendituresTotal Interest and Principal Divided By Total City Expenses
0 2 4 6 8 10 12 14 16 18
Bridgeport
New Haven
New Britain
Hartford
West Hartford
Waterbury
6.7%
Source: State of Connecticut, Office of Policy & Management, Municipal Indicators FY 2010
Target Between 6% and 8%
9
10
FY 11-12 Revenue Budget$547,194,221
FY 11-12 Multi-Year Grant Revenue Budget By Department(Total = $104,507,548)
Multi-Year Revenues
Government, 1%
Health & Human Services, 11%
Public Safety, 13%
Infrastructure, 1%
Section 8, 43%
HUD/HOME, 6%
Development Services, 10%
Children, Youth & Recreation, 15%
11
12
FY 11-12 Expenditure Budget$547,194,221
Note: Education Excludes $642,545 Appropriation Resulting From Adjustment Associated With Minimum Budget Requirements
Staffing By Department FY 11-12 BudgetCombined General Fund & Grants
Hartford Public Schools
Public Safety
General Government
Infrastructure
Health & Human Services
LibraryDevelopment
Services
13
Staffing By Department FY 11-12 BudgetCombined General Fund & Grants
Municipality HC %
Hartford Public Schools 3,017 64%
Public Safety 1,027 22%
General Government 239 5%
Infrastructure 226 5%
Health & Human Services 80 2%
Library 77 2%
Development Services 71 2%
Total 4,737 100%
14
Preliminary 2012-13 Budget
15
> Budget Preparation
> Summary
> Revenues
> Expenses
Preliminary 2012-13 Budget Assumptions
16
Revenue: Property Tax Revenue Projection Based On Revaluation of Property Without Modification to Mill Rate
Revenue: Intergovernmental Revenues Are Based on the Governor’s Preliminary Budget Proposal
Expenses: Are Driven By Contractual Obligations and Inflationary Pressure
Departmental Expenses: Have Been Instructed To Keep Their Budgets Flat
O
O
O
O
Preliminary 2012-13 Budget($ In Millions)
17
BUD EST 11-12 12-13 VAR
Revenues: Taxes 273,394 237,713 (35,681) Intergov’t 251,528 255,349 3,821 Other 22,272 19,040 (3,232) Total 547,194 512,102 (35,092)
Expenses: Payroll 100,020 105.908 5,888 Pension 24,882 35,466 10,584 Benefits 37,730 37,361 (369) Leases, Cont. & Svs. 17,959 17,281 (678) Debt Service 36,509 36,509 0 Utilities 18,988 19,048 60 Schools 283,366 288,816 5,450 Library 7,915 7,915 0 Other 19,825 20,040 215 Total 547,194 568,344 21,150
Net Surplus/(Deficit) 0 (56,242) (56,242)
Revenues Forecast
BUDGET FORECAST VARIANCE
FY 2011-2012 FY 2012-2013 GENERAL PROPERTY TAXES 273,394,264 237,713,151 (35,681,113)
LICENSES AND PERMITS 5,328,580 5,344,780 16,200
FINES FORFEITS & PENALTIES 240,000 246,000 6,000
REVENUE MONEY AND PROPERTY 5,178,287 2,195,488 (2,982,799)
INTERGOVERNMENTAL REVENUES 251,827,741 255,348,770 3,521,029
CHARGES FOR SERVICES 2,787,135 2,729,935 (57,200)
REIMBURSEMENTS 3,426,114 3,321,771 (104,343)
OTHER REVENUES 657,100 1,747,100 1,090,000
OTHER FINANCING SOURCES 4,355,000 3,455,000 (900,000)
TOTAL REVENUE 547,194,221 512,101,995 (35,092,226)
18
Net Property Tax RevenuesReduction of $35.7
(Dollars In Millions )
273.0 273.4
237.7
266.6
210
220
230
240
250
260
270
280
09-10 Act 10-11 Act 11-12 EST 12-13 EST19
Impact of Revaluation On Gross Tax Levy($ in Millions)
Category 2010 2011 VAR
Residential 56.7 51.3 (5.4)
Commercial 153.9 128.6 (25.3)
Personal & Auto 70.2 65.5 (4.7)
Total 280.8 245.4 (35.4)
20
Intergovernmental RevenuesIncrease of $3.5
(Dollars In Millions )
251.2 251.8
255.3
247.1
220
225
230
235
240
245
250
255
260
09-10 Act 10-11 Act 11-12 EST 12-13 EST
21
FY 12-13 Governor’s Proposed Budget Impact On City Revenues
FY 11-12 FY 12-13 Variance
Education Cost Sharing 187,974,890 192,783,001 4,808,111
Pilot: Colleges and Hospitals 25,078,308 25,078,308 0
Pilot: State Owned Property 12,691,078 12,670,364 (20,714)
Pequot-Mohegan Grant 7,236,716 7,437,118 200,402
Transportation Grant 1,685,397 1,626,522 (58,875)
Town Aid Road Grant 608,585 608,585 0
Manufacturing Transition Grant 1,126,251 1,126,251 0
Property Tax Relief Grant 5,650,845* 5,650,845 0
Total 242,052,070 246,980,994 4,928,924
* Estimate provided by Connecticut Conference of Municipalities.
22
Other RevenuesReduction of $3.0
(Dollars In Millions )
23.9
22.0
19.0
23.5
0
5
10
15
20
25
30
09-10 Act 10-11 Act 11-12 EST 12-13 EST
23
Expenditure Driver: PENSION Increase of $9.6 Million
-
5,000,000
10,000,000
15,000,000
20,000,000
25,000,000
30,000,000
35,000,000
07-08 Act 08-09 Act 09-10 Act 10-11 Act 11-12 Fcst 12-13 Est24
Expenditure Driver: BENEFITS
40,000,000
50,000,000
60,000,000
70,000,000
80,000,000
07-08 Act 08-09 Act 09-10 Act 10-11 Act 11-12 Fcst 12-13 Est25
Expenditure Driver: DEBT SERVICE
20,000,000
24,000,000
28,000,000
32,000,000
36,000,000
40,000,000
07-08 Act 08-09 Act 09-10 Act 10-11 Act 11-12 Fcst 12-13 Est
26
Expenditure Driver: Non-Operating
28,000,000
30,000,000
32,000,000
34,000,000
36,000,000
07-08 Act 08-09 Act 09-10 Act 10-11 Act 11-12 Fcst 12-13 Est27
Net Taxable & Non-Taxable Property
2,000,000,000
2,400,000,000
2,800,000,000
3,200,000,000
3,600,000,000
4,000,000,000
2009-10 2010-11 2011-12
Taxable
Non-Taxable
28
Net Taxable & Non-Taxable Property
29
09-10 10-11 11-12
Taxable 53.7% 52.0% 50.6%
Non Taxable 46.3% 48.0% 49.4%
Total 100.0% 100.0% 100.0%
PILOT Overview
2011-2012(GL 2010)
Mill Rate 71.79
Taxable Grand List 3,738,377,678Exempt Grand List 3,644,266,317Total Grand List 7,382,643,995
%Taxable 51%%Exempt 49%
Tax if exempt were taxable $261,621,879
PILOT Reimbursed $ 37,769,386 (1)
Lost Revenue $223,852,493
% Potential Revenue Reimbursed 14%
(1) Includes State Owned Properties, Colleges, Universities and Hospitals30
Hartford FY 2010 Non-Taxable Property(Total = $3,302,822,000)
State, 20%
Airports, 1%
Corrections, 1%
Colleges, 10%
Hospitals, 18%City, 26%
Other, 24%
31
Mitigation Strategies
Benefits
PILOT (Voluntary)
Pension
Education
Shared Services
Furloughs & Other Personnel
32
Proposed Schedule Proposed Date
Debt Service, Capital and Pension March 8th (Thursday)
Board of Education, Library and Hartford Parking Authority
March 21st (Wednesday)
Fifth COW Meeting… Mitigation Strategy March 28th (Wednesday)
Mayor finalizes Recommended Budget Late March-Early April
Budget Due to Council April 16th (Monday)
Public Hearing & Dept. Hearings Late April-Mid May
Budget Due to Mayor May 21st (Monday)
Final Adoption (no later than) May 31st (Thursday)
Next Steps
33
Overtime by Major CategoryFY 10-11 Actual Expenditures
34
35
Overtime by Department FY 10-11 Actual Expenditures
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