Overview of FY 2010 Recommended Budget Bay County, Michigan · Overview of Fiscal Year 2017...
Transcript of Overview of FY 2010 Recommended Budget Bay County, Michigan · Overview of Fiscal Year 2017...
Overview of Fiscal Year 2017
Executive
Recommended Budget
Bay County, Michigan
Prepared by:
Thomas L. Hickner Bay County Executive
Kimberly Priessnitz
Assistant Finance Officer Jan Histed
Finance Officer
November 15, 2016
• Introduction
• Revenues
• Expenditures
• Recommendations
• Q & A
November 15, 2016
2
2017 Executive Recommended Budget Overview
CITIZENS OF BAY COUNTY
• This budget strives to balance the needs of the
citizens of Bay County and its employees, while
ensuring fiscal responsibility and excellent
service to the Bay County community.
November 15, 2016
3
FISCAL RESPONSIBILITY EMPLOYEES
2017 Budget Highlights
•A balanced budget was submitted
by the statutory deadline
•Total county spending for all funds
$132M
•Total General Fund expenditures
$35M
November 15, 2016
4
REVENUES
November 15, 2016
5
2017 General Fund Revenues
$-
$5,000
$10,000
$15,000
$20,000 $15,539
$4,412 $3,496 $3,300 $2,760 $2,288 $1,173 $781
Millions
November 15, 2016
6
46%
Bay County General Fund
Property Tax Collections
$12.0
$13.0
$14.0
$15.0
$16.0
$17.0
$18.0
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
$16.8
$17.4 $17.5
$16.8 $16.4
$16.1 $16.0 $16.0 $15.7 $15.9
$15.5
Millions
November 15, 2016
7
2017 – General Fund Revenues
•$1.2M transfer to the General Fund from the Delinquent Tax Revolving Fund
•Revenue Sharing – 2.6M
•Liquor Tax – 371K
November 15, 2016
8
EXPENDITURES
November 15, 2016
9
2017 – General Fund Expenditures
$-
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
$16,000 $14,912
$6,244 $5,792
$3,759
$1,254 $1,151 $956 $1,129
Millions
November 15, 2016
10
Wages + Fringes = 60%
Other General Fund
Expenditure Factors
•Wages- No increase to base is currently included in the 2017 Executive budget, however contract negotiations were finalized as of Tuesday November 8, 2016.
+ One percent (1%) lump sum or three personal days are included in this budget.
November 15, 2016
11
Other General Fund
Expenditure Factors (Continued)
• Health Insurance-Employers health insurance contributions is projected to be $3.7M (includes Active & Retirees)
• Continued Health Cost Reducing Measures - Co-Pay & Deductible Structure - Prescription Incentive Program
- Wellness Center - Wellness Programs
November 15, 2016
12
General Fund Expenditures
Retirement System
•As of December 31, 2015, the General Group in the retirement system had a funded ratio of 116%; as a result, there is no recommended employer contribution to the pension system for 2017. (however, the 4% employer
contribution is currently budgeted)
November 15, 2016
13
Continued
General Fund Expenditures
Retirement System (Continued)
•As of December 31, 2015, the Sheriff Group in the retirement system had a funded ratio of 123%. As a result, no employer contributions to the pension system are required for 2017.
(the 4% employer contribution for 2017 is currently
budgeted)
November 15, 2016
14
100%
110%
120%
130%
140%
150%
160%
170%
180%
190%
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
135% 132% 131% 132%
122%
112% 107% 105%
109% 112%
116%
158% 156%
151% 153%
134%
129%
120%
112%
119% 123% 123%
November 15, 2016
15
Percentage Funding Level
of Pension Funds
Blue(left) = General Group Red = Sheriff’s Group
2017 Major Transfers Out
•Health Department - $1.037M
• Juvenile Home - $619K
Note: Other Child Care programs funded by the General Fund – $947K, a $212K GF increase over the 2016 budget (the remaining increase is covered by 50% State match revenue).
November 15, 2016
16
2017 Major Capital Expenditures General Fund
• Buildings & Grounds $ 437,000 (Includes County-Wide Phone System from 2016 Budget)
• Sheriff $ 195,900
• Information Systems $ 527,500
• Secondary Road Patrol $ 111,200
November 15, 2016
17
General and Budget Stabilization
Fund Balances
$-
$2
$4
$6
$8
$10
$12
$14
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
November 15, 2016
18
Green: Budget Stabilization Fund
Blue: Assigned & Unassigned Fund Balance
* In FY 2016 1.6M will be moved to Budget Stabilization from Unassigned which will bring the reserve level to 20% based on P.A. 2016, No. 169.
Millions
RECOMMENDATIONS
November 15, 2016
19
Recommendations • Use approximately $1.4M of Unassigned Fund Balance
to balance the 2017 budget.
• Continue to prioritize capital outlay projects as to reduce the level of 2017 projects based on need, Capital outlay is budgeted at 2.3M countywide.
• Finalize the negotiated union contracts for the three year period of FY 2017-2019, and adjust the budget as necessary.
• This approach services the needs of the citizens of Bay County and its employees. Additional decisions/adjustments will have to be made to the 2017 operating budget to ensure fiscal responsibility, while still maintaining excellent service to the community.
November 15, 2016
20
Questions? Thank you!
November 15, 2016
21