2012-2013 Budget - City of Saginaw MI

SUMMARY OF REVENUESGENERAL FUNDGeneral Fund revenue is expected to decrease by $1,224,208, or –3.71% from the 2011/2012 ApprovedBudget. Property Tax revenues are expected to increase by $1,064,461, or 26.67% from the previous year.This is primarily attributed to one time revenues for prior year refunds on property taxes as well as the cityrealizing additional property tax revenues for property in renaissance zones and capturing districts that havematured. Additionally, the FY 2013 Approved Budget reflects a slight increase in the amount of moniesreceived for payments –in-lieu of taxes. City Income Tax will increase by $222,879, or 1.89% from FY 2012.This increase is attributed primarily due to the addition of new business as well as the city aggressivelypursuing delinquent income taxes through designating a Collection Specialist to that effort. These moniescollected will offset the cost of the employee, less pension expenditures. State Shared revenues are projectedto decrease by $899,744, or -11.24%. This decrease is attributable to the reduction in Statutory andConstitutional State Shared Revenues due to the implementation of the Economic Vitality Incentive Programand population loss. Grants are expected to decrease by $77,116, or -10.84% from the previous year. Thisdecrease is attributed to the reduction in federal funds for Community Public Safety- Police and one-timegrants revenues for economic development. Licenses, Permits, and Fees are projected to be $1,222,700 whichis a decrease of $2,450 from the previous fiscal year. Charge for Services is projected to increase by $27,540,or 3.03%. This increase can be attributed to slight increase to False Alarm Fees for Police. In FY 2012, thecity vendors who provide false alarm services were reorganized and the CPS – Fire false alarm fees wereadded, this resulted in additional revenues. Fines and Forfeitures will increase by $641,522, from the previousfiscal year. This increase is due to the reassignment of the Parking and Operations Maintenance Fund from anEnterprise Fund to the General Fund. Additionally, the city administration is in the process of evaluating theparking enforcement strategy for the city and has developed a long-term strategy that will allow the city tocollect outstanding parking revenue. Interest revenues are expected to decrease by $2,800. This anticipateddecrease is based on the downward fluctuation in the market. The General Fund Reimbursement will increase$529,194 or 21.29% from the approved 2012 budget. This increase is due to increases in the funds allocatedfor Saginaw County- weed abatement, an increase to the cost allocation plan, as well as an appropriation ofrevenue for the city’s detachment agreements. The category of Other Revenues is expected to decrease by$224,713, or -30.03% from the 2012 budgeted levels. This decrease can be attributed to a reduction in Non-Owner Occupied Dwelling, which was already accounted for in Housing Registration Fees, as well as areduction in the amount appropriated for Encroachment fees. Finally, in FY 2013, city administrationseparated the Use of Fund Equity and Transfers revenues from Other Revenues. In 2012/2013 ApprovedBudget, no funds will be appropriated from city reserves nor will there be any funds received as a transfer in tothe General Fund.SPECIAL REVENUE FUNDSThe total Special Revenue Funds’ revenues will be $30,940,729, for the 2012/2013 Approved Budget. Thisrepresents a $1,194,811, or -3.72% reductions from the previous fiscal year. Listed below is a discussion onmajor variances within this fund type:Major and Local Streets:The Major and Local Streets revenues are expected to decrease by a net of $357,693. This decrease isbased on the restructuring of Public Services. This reduction will be offset by the reallocation of nonbusinesspermits revenue from the General Fund to Street Funds.Public Safety Fund:The Public Safety Fund is expected to decrease by $86,560, or -2.14%. In November 2011, the citizensof the City of Saginaw approved the retention of the Public Safety Millage as well as an additional 1.535