2013â2014 BIENNIAL BUDGET - the City of Tukwila

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2013-2014 Biennial Budget City of Tukwila, WashingtonChange in Ending Fund Balance – All FundsFundProjected Change in Change in2012 EndingFundBalanceIncrease(Decrease)FundBalance2012-20132013 EndingFundBalanceIncrease(Decrease)FundBalance2013-20142014 EndingFundBalanceSPECIAL REVENUEDEBT SERVICEFUNDSCAPITALPROJECTSENTERPRISEFUNDSINTERNALSERVICEFUNDSGENERAL FUND$ 3,800,000 $ 1,583,253 41.7% $ 5,383,253 $ (1,073,838) -19.9% $ 4,309,415Fund 101 - Hotel/Motel Tax 650,000 (121,516) -18.7% 528,484 (111,687) -21.1% 416,797Fund 103 - Residential Streets 700,000 (188,000) -26.9% 512,000 111,000 21.7% 623,000Fund 104 - Bridges & Arterial Streets 200,000 111,395 55.7% 311,395 (219,291) -70.4% 92,104Fund 105 - Contingency 1,500,000 1,501,816 100.1% 3,001,816 2,201,816 73.3% 5,203,632Fund 107 - Fire Equipment Reserve 1,030,000 (1,030,000) -100.0% - - 0.0% -Fund 109 - Drug Seizure 280,000 41,000 14.6% 321,000 41,000 12.8% 362,000Fund 209 - Limited Tax GO Bonds, 2003 3,303,000 (3,303,000) -100.0% 1 - 0.0% 1Fund 210 - LTGO Refunding Bonds, 2003 1,000 - 0.0% 1,000 - 0.0% 1,000Fund 211 - LTGO Refunding Bonds, 2008 1,000 - 0.0% 1,000 - 0.0% 1,000Fund 212 - LTGO Bonds, 2009, SCORE 1,000 2,185 218.5% 3,185 834 26.2% 4,019Fund 214 - Limited Tax GO Bonds, 2010 1,000 983 98.3% 1,983 633 31.9% 2,616Fund 216 - LTGO Ref Bnds,ValleyComm 1,000 120 12.0% 1,120 720 64.3% 1,840Fund 217 - LTGO Refunding Bonds, 2011 1,000 25 2.5% 1,025 325 31.7% 1,350Fund 301 - Land Acq, Rec, Park Develop 500,000 27,000 5.4% 527,000 246,000 46.7% 773,000Fund 302 - Facility Replacement 2,000,000 (584,398) -29.2% 1,415,602 (4,398) -0.3% 1,411,204Fund 303 - General Government Imp 200,000 (107,095) -53.5% 92,905 165,637 178.3% 258,542Fund 304 - Fire Improvements 300,000 50,100 16.7% 350,100 50,100 14.3% 400,200Fund 401 - Water 4,000,000 (1,204,809) -30.1% 2,795,191 322,544 11.5% 3,117,735Fund 402 - Sewer 1,100,000 (508,884) -46.3% 591,116 (37,813) -6.4% 553,302Fund 411 - Foster Golf Course 200,000 83,980 42.0% 283,980 290,089 102.2% 574,069Fund 412 - Surface Water 2,000,000 (919,794) -46.0% 1,080,206 (47,192) -4.4% 1,033,014Fund 501 - Equip Rental & Replacement 4,000,000 (60,480) -1.5% 3,939,520 422,669 10.7% 4,362,189Fund 502 - Self-Insured Healthcare Plan 4,500,000 (352,757) -7.8% 4,147,243 (713,614) -17.2% 3,433,629Fund 503 - LEOFF I Self-Ins Health Plan 1,600,000 (505,151) -31.6% 1,094,849 (549,738) -50.2% 545,111FIDUCIARYFUNDSFund 611 - Firemen's Pension 1,420,000 (12,250) -0.9% 1,407,750 (14,077) -1.0% 1,393,673TOTAL ENDING FUND BALANCE$ 33,289,000 $ (5,496,276) -16.5% $ 27,792,724 $ 1,081,719 3.9% $ 28,874,442Page 53
2013-2014 Biennial Budget City of Tukwila, WashingtonREVENUE – ALL FUNDSThe total revenue and transfers budgeted is $119.9 million for 2013 and $128.7 million for 2014. This isan overall growth in 2013 of 10.2% over the 2012 budgeted revenue. The 2014 revenue projection is 7.3%over the 2013 projected amount. Revenue projections for ongoing sources are conservative estimatesbased on local economic factors as well as historical data. Total revenue also includes transfers in fromother funds, one-time Local Improvement District (LID) proceeds of $8.5 million in 2013 and $4.4 millionin land sales in 2014.Sales and use tax is the City’s largest revenue source. Sales & use tax revenue is projected to increase1.7% to $15.3 million in 2013 and 2.5% to $15.7 million in 2014. Projections for sales and use tax revenueare based on historical trends as well as selected economic indicators including changes inunemployment, disposable income, and anticipated construction of major projects.Property tax, which is the second largest revenue source, is used for general governmental operations.Initiative 747 limits growth of property tax revenue to the lesser of 1% or inflation. Property tax growthresulting from new construction, changes in value of state-assessed utility property, and newly annexedproperty are exempted from the limit factor and may be added to the tax value. The City anticipates thatproperty tax revenue will be at $13.8 million in 2013. Due to an anticipated annexation and newconstruction property tax is projected to increase in 2014 by 3.4% to $14.3 million.Cities and towns in Washington State are authorized to levy a tax on public utility businesses based onrevenues they generate within the city or town, known as a utility tax. The city currently levies a 6% taxon electricity, natural gas, cable, telephone, and solid waste/recycling. Utility tax revenue is projected tobe $4.3 million in 2013 and $4.4 in 2014.The City also receives revenue from other sources to pay for providing general government services.These revenue sources include other taxes (admissions, excise, hotel/motel), fees and charges, interestearnings, and grants.Other considerations incorporated into revenue projections include a reduction in state shared revenues,reimbursement for street improvements via a LID in 2013 and potential sale of land in 2014.Page 54
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2013â2014 BIENNIAL BUDGET - the City of Tukwila

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2013â2014 BIENNIAL BUDGET - the City of Tukwila