Overview of Fiscal Year 2013 Executive Recommended Budget Bay County, Michigan
The composition of the Fiscal Year 2013 Executive Recommended Budget for Bay County, Michigan includes detailed information on revenues, expenditures, property tax collections, and financial highlights. Key aspects such as total county spending, General Fund revenues, property tax collections, and budget allocations are outlined in the provided images with corresponding descriptions.
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Overview of Fiscal Year 2013 Executive Recommended Budget Bay County, Michigan Prepared by: Thomas L. Hickner Bay County Executive Crystal Hebert Finance Officer Kimberly Priessnitz Assistant Finance Officer October 16, 2012
2 October 16, 2012 CITIZENS OF BAY COUNTY CITIZENS OF BAY COUNTY FISCAL RESPONSIBILITY FISCAL RESPONSIBILITY EMPLOYEES EMPLOYEES
3 October 16, 2012 2013 Budget Highlights A balanced budget was submitted by the statutory deadline Total county spending for all funds $125M Total General Fund expenditures $33.6 M
4 October 16, 2012 REVENUES
5 October 16, 2012 2013 General Fund Revenues Thousands $20,000 $16,033 48% $15,000 $10,000 $3,804 $3,395 $2,856 $2,723 $1,872 $1,163 $1,040 $753 $5,000 $-
6 October 16, 2012 Bay County General Fund Property Tax Collections Millions $17.5 $18.0 $17.4 $16.8 $16.8 $17.0 $16.4 $16.1 $16.0 $15.9 $16.0 $15.1 $15.0 $14.0 $13.0 $12.0 2005 2006 2007 2008 2009 2010 2011 2012 2013
7 October 16, 2012 General Fund Property Tax Collections Percentage change from previous year 5.7% 5.3% 6.0% 5.0% 3.6% 3.4% 4.0% 3.0% 2.0% 0.6% 1.0% 0.0% 2005 2006 2007 2008 2009 2010 2011 2012 2013 -0.6% -1.0% -2.0% -1.8% -2.4% -3.0% -4.0% -4.0%
8 October 16, 2012 2013 General Fund Revenues $1,150,000 transfer to the General Fund from the Delinquent Tax Revolving Fund Revenue Sharing increased 5.3% from 2012
9 October 16, 2012 2013 General Fund Revenues Register of Deeds: Recording and Transfer Tax Fees = $385,000 Other Financing Sources: Transfer in $324K from Self Insurance Healthcare Fund
10 October 16, 2012 EXPENDITURES
11 October 16, 2012 2013 General Fund Expenditures Thousands $13,752 $14,000 Wages + Fringes = 68% $12,000 $10,000 $7,458 $8,000 $4,921 $6,000 $4,216 $4,000 $1,151 $1,071 $832 $2,000 $237 $-
12 October 16, 2012 General Fund Expenditures by Function 32.80% 25.08% 19.96% 9.24% 5.08% 4.93% 0.03% 2.31% 0.58%
13 October 16, 2012 Other General Fund Expenditure Factors Health Insurance Active employee and retiree health insurance is $4.7M, which includes a projected increase of $328K Health Cost Reducing Measures - EHiM Drug Plan - Co-Pay Scale
14 October 16, 2012 General Fund Expenditures Retirement System As of December 31, 2011, the General Group in the retirement system has a funded ratio of 106.7%; as a result, the recommended employer contribution to the pension system is 4.08% of payroll beginning January 1, 2013. This recommendation is a result of the most recent actuarial study.
15 October 16, 2012 General Fund Expenditures Retirement System (Continued) As of December 31, 2011, the Sheriff Group in the retirement system has a funded ratio of 120.1%. As a result, no employer contributions to the pension system are required for 2013. Due to the funding level going below 125%, the employee contribution for 2013 will be reverted to the retirement system.
16 October 16, 2012 Retirement Fund Balances Millions $250.0 $230.0 $210.0 $190.0 $170.0 $150.0 $130.0 $110.0 $90.0 $70.0 $50.0
17 October 16, 2012 Percentage Funding Level of Pension Funds 190% 180% 172% 170% 158% 157% 160% 156% 153% 152% 151% 147% 150% 138% 140% 136% 135% 134% 132% 132% 131% 128.6% 130% 122% 120.1% 120% 111.6% 106.7% 110% 100% 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Blue(left) = General Group Red = Sheriff s Group
18 October 16, 2012 2013 General Fund - Contributions Bay Arenac Behavioral Health Authority - $682 K Bay Futures - $50K Specific expansion/attraction efforts, $25K, provided a specific business plan is submitted and approved by the Board of Commissioners
19 October 16, 2012 2013 Major Transfers Out Health Department - $1.043M Juvenile Home - $502K Note: Other Child Care programs funded by the General Fund $557K
20 October 16, 2012 2013 Major Capital Expenditures Buildings and Grounds Information Systems Sheriff Pinconning Park (Grant funded) $ 20,000 $ 270,710 $ 149,742 $ 137,000
21 October 16, 2012 General and Budget Stabilization Fund Balances Millions $12 $10 $8 $6 $4 $2 $- 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Green: Budget Stabilization Fund Blue:Assigned Fund Balance
22 October 16, 2012 RECOMMENDATIONS
23 October 16, 2012 Recommendations Maintain a status quo budget. Use approximately $970K from Fund Balance to service the 2013 debt requirements. At the end of 2016, Bay County s primary government debt will be serviced. Maintain 5%-15% reserve level in the Budget Stabilization Fund. Current reserve is at the maximum level of 15%. This approach strikes a balance between the needs of the citizens of Bay County and its employees, while ensuring fiscal responsibility and excellent service to the community.
24 October 16, 2012 Recent Developments in Bay County Uptown at River s Edge City of Bay City: $50M - 500+ Jobs Dow Corning - Williams Township: $117M Investments - 73 Jobs
25 October 16, 2012 Questions? Thank you! Go Tigers!
