2012-2013 Budget - City of Saginaw MI

The above graph reflects numerical data from FY 2002 – FY 2011 Actual Revenues, and FY 2012 and FY 2013 ApprovedBudgets. The fluctuation in the revenues trends listed above is a direct result of fluctuations in market conditions.Although in FY 2009, the City realized a loss on investments of approximately $22 million, from FY 2010 and FY 2011,the City begins to realize a net gain on investments. For the Approved 2012 Budget, revenue gain or loss has not beenprojected. This will be recognized in a budget adjustment at fiscal year-end. FY 2013 reflects that the portfolio willremain steady with a slight increase from FY 2012. However, the contributions from the General and Public Safety GrantFunds are estimates due to the lag in the completion of the pension valuations. Revenues reflect an upward trenddepending on the completion of the actual valuation.EXPENDITURE BUDGET SUMMARYThe total Police and Fire Pension Fund expenditures willbe $14,164,562 for FY 2013. This represents anincrease of $472,204, or 3.45%. Personnel Services willincrease $466,718, or 3.63% from FY 2012. Thisincrease is due in large part to the increase in allocationfor Police Pension and Fire Pension payments to theretirees due to the addition of employees to theretirement system. Similarly, the Operating Expenseswill increase approximately $5,486, or .67% from theprevious fiscal year. This increase can be attributed to arise to the custodial fees for the various stockoptions/managers. The city did not budget for anyCapital Outlay or Miscellaneous Expenditures in FY2013.FUNDING LEVEL SUMMARY2008/09 2009/10 2010/11 2011/12 2011/12 2011/12 2012/13Actual Actual Actual Approved Adjusted Projected Approved1765 Police and FirePension Administration 651,909 735,367 723,018 892,358 892,358 678,546 904,5621766 Police Pension 6,614,020 6,724,468 6,853,374 6,800,000 6,927,464 7,331,871 7,100,0001767 Fire Pension 5,792,959 5,875,027 5,937,927 6,000,000 6,084,976 6,310,965 6,160,000Total Expenditures 13,058,888 13,334,862 13,514,319 13,692,358 13,904,798 14,321,382 14,164,562FUNDING LEVEL BY CATEGORY2008/09 2009/10 2010/11 2011/12 2011/12 2011/12 2012/13Actual Actual Actual Approved Adjusted Projected ApprovedPersonnel Services 12,445,457 12,640,981 12,836,982 12,871,410 13,088,215 13,718,093 13,338,128Operating Expenses 613,431 693,881 677,337 820,948 816,583 603,289 826,434Capital Outlay 0 0 0 0 0 0 0Total Expenditures 13,058,888 13,334,862 13,514,319 13,692,358 13,904,789 14,321,382 14,164,562SUMMARY OF POSTIONS2008/09 2009/10 2010/11 2011/12 2011/12 2011/12 2012/13Actual Actual Actual Approved Adjusted Projected Approved1765 Police and Fire PensionAdministration0.00 0.45 0.45 0.85 0.85 0.85 0.85Total Positions 0.00 0.45 0.45 0.85 0.85 0.85 0.85322