The City’s fiscal year ends on June 30th. On that day, the most expensive year in the last five years of City history will have taken $500,000 from the City’s General Fund. The amount is more than double that of any General Fund Deficit posted in the last five years. 2012-2013 may be in terms of actual dollars spent (or committed) the most expensive year in the City’s history.
Weeks ago, fiscal year 2013-2014, with a proposed -$447,227 addition deficit to the General Fund was slated to be possibly the second most expensive year in City History. That possibility still exists but an
“essentials only “ strategy in budgeting has brought the year beginning July 1 2013 down to a manageable -$111,804 deficit which if it stands will be the fourth most expensive year in the past seven.
Today the City Commission will conduct a public hearing and hold a special meeting to adopt the fiscal year 2013 and-2014 budget. It will be a 5:30 pm meeting at City Hall.
Understanding the General Fund
The General Fund is the is the City's main pocket book from which the bills are paid.In recent years at its height in 2011-2012 it was $4,821,909, at its lowest in 2012-2013 it is at an estimated $4,293,988. The difference reflects the estimated excess expenditures over revenues of $527,911.
Understanding the $527,911 Deficit
It is a result of three things. The Commission of 2012-2013 had revenues of -$100,000 less that the one that preceded it.
2011-2012
|
2012-2013
|
Difference
| |
Mayor
|
Zambricki
|
McClure
| |
Property Taxes
|
7,082,689
|
7,026,479
|
56,210
|
Special Assessments
|
24,569
|
10,544
|
14,025
|
Licenses Permits
|
523,801
|
603,710
|
-79,909
|
State Sources
|
297,230
|
285,685
|
11,545
|
Charge for Service
|
39,546
|
35,537
|
4,009
|
Fines and Forfeitures
|
441,094
|
450,000
|
8,906
|
Investment income
|
25,557
|
43,646
|
18,089
|
Other Revenues
|
412,423
|
277,451
|
134,972
|
Operating Transfers in
|
0
|
12,900
|
12,900
|
Total Revenue
|
8,846,909
|
8,745,952
|
100,957
|
The Commission of 2012-2013 was not adverse to spending money. Expenditures exceed that of every recent commission with the exception the 2008-2009 Commission which folowed on the heels of major economic collapse.
The only other commission to come close in spending was the 2009-2010 commission which began in the May of Nig three bankruptcies
The only other commission to come close in spending was the 2009-2010 commission which began in the May of Nig three bankruptcies
Year
|
Mayor
|
Expenditures
|
Notes
|
2008-2009
|
Zambricki
|
9,351,928
|
2008 Real Estate Wall Sreet Crash
|
2012-2013
|
McClure
|
9,273,863
| |
2009-2010
|
Kellet
|
9,258,552
|
GM Chrysler Bankruptcy
|
2007-2008
|
Hardy
|
9,194,173
| |
2011-2012
|
Zambricki
|
8,708,038
| |
2010-2011
|
McCready
|
8,464,426
|
The Commission of 2012-2013 also ear marked $425,000 for roads.This money isplanned for Orchard Ridge Road on a project slated for this summer. Last year the city spent $723,000 on paving Epping Lane and revamping Kennsington Rd. Some of this money perhaps as much as half may be coming back in government funding.
To understand the process by which these decisions are made you have yo understand the budget process which varies city commission to city commission.
Year
|
2007-2008
|
2008-2009
|
2009-2010
|
2010=2011
|
2011-1012
|
2012-2013
|
2013-2014
|
Mayor
|
P.Hardy
|
M.Zambricki
|
D.Kellet
|
M.McCready
|
M.Zambricki
|
S.McCLure
|
S.Mclure TBD
|
Excess Revenue over or under Expenditures
|
$35,250.00
|
-$213,496.00
|
-$170,173.00
|
$680,432.00
|
$113,440.00
|
-$527,911.00
|
-$111,804.00
|
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