Public Hearing 2020 Proposed Budget 2019 Proposed Tax Rate - - PowerPoint PPT Presentation
Public Hearing 2020 Proposed Budget 2019 Proposed Tax Rate September 27, 2019 9/27/2019 1 City of Hedwig Village Taxable Values Taxable Values 2013 $729,109,159 7.96% 2014 $803,791,113 10.24% 2015 $927,369,374 15.37% 2016
1 9/27/2019
2012 2013 2014 2015 2016 2017 2018 2019
2 9/27/2019
Taxable Values
2013 $729,109,159 7.96% 2014 $803,791,113 10.24% 2015 $927,369,374 15.37% 2016 $985,120,836 6.23% 2017 $1,033,346,655 4.90% 2018 $1,021,473,308
2019 $1,066,267,763 4.39%
Tax Year 2019 - Exemptions 27% - Over 65 75% - Homestead
3 9/27/2019
General Fund
REVENUES Property Taxes - Rollback Rate 2,314,851
36%
2,283,687
36%
2,603,000
39%
288,149 12% Sales Tax 1,895,000
29%
1,895,000
30%
1,895,000
29%
0% Franchise Fees 345,000
5%
340,000
5%
400,000
6%
55,000 16% Permits 225,000
3%
500,000
8%
350,000
5%
125,000 56% Unrestricted Revenue 186,000
3%
102,667
2%
103,000
2%
(83,000)
Restricted Revenue - Metro & Others 1,222,600
19%
969,700
15%
973,600
15%
(249,000)
Municipal Court 286,000
4%
216,100
3%
250,000
4%
(36,000)
Interest 2,500
0%
32,000
1%
32,000
0%
29,500 1180% TOTAL REVENUES 6,476,951
100%
6,339,154
100%
6,606,600
100%
129,649 2% 2019 Budget vs. 2020 Preliminary Budget 129,649 2019 Budget vs. 2020 Prelim Budget Net Difference Projected Budget 2019 Preliminary 2020 Budget @6/30/19 12/31/2019 Full-Year
Proposed Tax Rate = $0.323478/$100
4 9/27/2019 *For presentation purposes, restricted revenue have been assigned to the department within which they are spent. $ 30,149 – Initial Increase - Rollback Rate $ 37,600 – Health Insurance Increase $ 3,000 – Operating Exp. (HCAD & O365 increased) $ 5,900 – Reserve Schedule Increase $ 53,000 – Street Infrastructure $ 99,500 – $.01 cent over Rollback Rate $129,649 – Total Increase from 2019
General Fund
EXPENDITURES General Operations 425,300
7%
426,460
7%
440,900
7%
15,600 4% Fire Department 1,146,000
18%
1,146,000
18%
1,207,300
18%
61,300 5% Police Department 2,943,050
45%
2,874,622
46%
3,124,950
47%
181,900 6% Municipal Court 254,150
4%
229,481
4%
215,750
3%
(38,400)
Blding/Grnds/Parks/PW(Garbage) 1,208,450
19%
1,038,636
17%
1,108,600
17%
(99,850)
Prof Srv/Community 331,000
5%
440,800
7%
429,000
6%
98,000 30% Reserve (Change) 169,000
3%
90,854
1%
80,100
1%
(88,900)
TOTAL EXPENDITURES 6,476,951
100%
6,246,853
100%
6,606,600
100%
129,649 2% 2019 Budget vs. 2020 Preliminary Budget 129,649 2019 Budget vs. 2020 Prelim Budget Net Difference Projected Budget 2019 Preliminary 2020 Budget @6/30/19 12/31/2019 Full-Year
Proposed Tax Rate = $0.323478/$100
2019 Budget 2020 Preliminary Budget Difference Personnel Expenditures
(Includes VFD Personnel)
$4,190,273 65% $4,263,932 65% $73,659 Operating/Maint. Expenditures
(Includes VFD ops)
1,480,152 23% $1,626,853 25% $146,701 Capital Expenditures
(Includes VFD Capital)
$637,525 10% $635,715 10% ($1,810) Designated Reserves 195,000 3% $180,100 3% ($14,900) Use of Designated Funds ($26,000) 0% ($100,000) (2%) ($74,000) TOTAL $6,476,951 $6,606,600 $129,649
5
9/27/2019
6
City of Hedwig Village
9/27/2019
2019 Budget vs 2020 Prel. Budget Personnel Employer Retirement Benefit Plans $3,100 Health Insurance and Taxes $10,700 Salary Increases ($8,450) VFD Personnel Increases $68,309 Total Personnel $73,659 Operating/Maint.
146,701 Total Operating $146,701 Capital HV Capital (Computers and Misc.) ($75,900) Street/Drainage/Flood Infrastructure $53,000 PD License Plate Reader $12,000 1 PD Unmarked Vehicle $25,000 VFD Capital Misc. ($15,910) Total Capital ($1,810) Designated Reserves ($14,900) Use of Designated Funds ($74,000) TOTAL $129,649
7
City of Hedwig Village Reserves Schedule
Needed Annually
9/27/2019
Year Useful Life
Estimated Life Remaining
Estimated Replacement Cost Funds Reserved Prior Yrs Over / Under Reserve Proposed 2020 Budget
TOTAL RESERVED @ 12/31/2020 Computer System - Software/Hardware 7 4 185,000 36,076 148,924 37,300 73,376 Building/Roof/Mechanical Equipment 2008 14 2 115,000 115,000 57,500 57,500
Total G&A Reserves
300,000 36,076 263,924 94,800 130,876 Computer System - Software/Hardware 7 4 215,000 88,478 126,522 31,400 119,878 Building/Roof/Mechanical Equipment 2017 14 11 115,000 115,000 10,500 10,500 PD - 250KW Generator 2017 20 17 75,000 6,105 68,895 4,100 10,205
Total Police Department Reserves
405,000 94,583 310,417 46,000 140,583 Park Equipment 15 5 45,000 6,429 38,571 7,800 14,229
Total Police Department Reserves
45,000 6,429 38,571 7,800 14,229 City Hall - 150KW Generator 2008 20 8 60,000 8,667 51,333 6,500 15,167
Total Public Works Reserves
60,000 8,667 51,333 6,500 15,167 Concrete Streets 50 32,799,540 32,799,540 Asphalts Streets 25 13,364,888 13,364,888
Total Traffic & Mitigation Reserves
46,164,428 46,164,428
Emergency Preparedness
500,000 500,000 25,000 25,000
GRAND TOTAL FOR RESERVES 47,474,428 145,754 47,328,673 180,100 325,855
8 9/27/2019 Proposed 2020 Budget ESTIMATED CASH BALANCES: @ 12/31/2019 @ 12/31/2020 w/tax rate .323478 GENERAL FUND: $503,497 $503,497 CAPITAL - TAX NOTE $340,781 $71,281 POLICE SEIZURE $1,779 $1,779 DEBT SERVICE $91,622 $97,122 CONGESTION/MITIGATION $399,625 $399,625 ESTIMATED TOTAL $1,337,304 $1,073,304 RESERVES: OPERATING $95,439 $95,439 STREET AND DRAINAGE $495,990 $395,990 EQUIPMENT REPLACEMENT (Schedule) $145,754 $300,854 EMERGENCY $0 $25,000 $737,183 $817,283 2020 PROPOSED BUDGET - REVENUE OVER / (UNDER) EXP.
Debt per capita is $1,754
9
9/27/2019 Opportunity to Issue Debt for Infrastructure – Street / Drainage Improvements without a big increase in the tax rate.
City Taxable Value @ 4/5/19 Debt EOY 2018 2018 NOMINAL Tax Rate Tax Exemption 2018 Sales Tax Revenue
Bellaire (16,855) $4,794,786,822 129M .431 Homestead = 20% Over 65 = $135K Disability = $135K $2,387,124 Bunker Hill (3,759) $2,203,483,895 9M .277 No Homestead Over 65 = $15K $164,869 Hedwig (2,667) $1,021,312,214 5M .307 Homestead = 20% Over 65 = $20K $1,956,338 Hilshire (761) $234,900,869 2.1M .568 Homestead = 20% Over 65 = $40K Disability = $40K $52,674 Hunters Creek (4,374) $2,902,006,213 .184 No Homestead Over 65 = $10K $493,890 Jersey Village (7,636) $1,080,532,017 12.1M .743 Homestead = 14% Over 65 = $50K Disability = $75K $4,689,565 Piney Point (3,125) $2,658,354,937 1.5M .255 No Homestead Over 65 = $21K Disability = $21K $202,988 Spring Valley (3,715) $1,232,443,822 12M .430 Homestead = 20% Over 65 = $20K Disability = $20K $1,411,205 West Univ. (14,787) $6,168,681,873 42M .317 No Homestead Over 65 = $185K Disability = $185K $1,174,770 10 9/27/2019
11 9/27/2019
$0.00 $0.10 $0.20 $0.30 $0.40 $0.50 $0.60 $0.70 $0.80
BELLAIRE BHV HEDWIG HILSHIRE HOUSTON HUNTERS CRK JV PPV SV WEST U
2015 TAX RATE 2016 TAX RATE 2017 TAX RATE 2018 TAX RATE
Tax Rate $0.317 Tax Rate $0.431 Tax Rate $0.277 Tax Rate $0.307 Tax Rate $0.568 Tax Rate $0.583 Tax Rate $0.255 Tax Rate $0.743 Tax Rate $0.184 Tax Rate $0.430
12 9/27/2019
$1.394500 $0.623620 $0.224874 $0.081780 $0.027463 $0.011550
Spring Branch ISD 59% Harris County 26% Hedwig Village Operations 10% Hedwig Village Debt 3% Memorial Villages Water Authority 1% Port of Houston <1%
13 9/27/2019
Addt'l Rev M&O Rate I&S Rate TOTAL Above Tax Rate Revenue Tax Rate Revenue TAX RATE Revenue Rollback Rate CURRENT TAX RATE: 2018 Tax Rate: 0.224874 $2,297,028 0.081780 $835,361 0.306654 $3,132,389 TAX RATE: 2019 Tax Rate Effective Rate (E) 0.224703 $2,395,000 0.076609 $816,000 0.301312 $3,211,000 Rollback (R) 0.236869 $2,525,000 0.076609 $816,000 0.313478 $3,341,000 Rollback + .05¢ (+.05) 0.241869 $2,578,000 0.076609 $816,000 0.318478 $3,394,000
$53,000
Rollback + 1¢ (+1) 0.246869 $2,632,000 0.076609 $816,000 0.323478 $3,448,000
$107,000
Rollback + 2¢ (+2) 0.256869 $2,738,000 0.076609 $816,000 0.333478 $3,554,000
$213,000
14 9/27/2019
Current Tax Rate Effective Tax Rate Rollback Rollback Rollback + 1¢ Rollback + 2¢ 2018 Rate 2019 Rate (E) 2019 Rate (R) 2019 Rate (+.05) 2019 Rate (+1) 2019 Rate (+2) Residential appraised value $800,000 $800,000 $800,000 $800,000 $800,000 $800,000 Tax rate (per $100) 0.306654 0.301312 0.313478 0.318478 0.323478 0.333478 Tax $2,453 $2,410 $2,508 $2,548 $2,588 $2,668 Tax bill would increase over the Effective Rate $97 $137 $177 $257
HOME VALUE COMPARISON - 1 Million Dollar Home w/Homestead Exemption
Infrastructure Management Program - Concrete Streets
Street Material: Concrete with Curb, Gutter and Storm Sewer Number of Major Roadways Length (Miles) Cost/Sq Ft Total Value of Inventory Useful Life (Years) Replacement Annual Assessment 15 yrs @ 2% Annual Maintenance Concrete - Major Streets 3.5 1.85 $36.37 $9,353,273 50 years
w/maintenance
$187,065 $12,471 Concrete - Minor Streets 29 4.59 $35.36 $23,446,267 50 years
w/maintenance
$468,925 $31,262 Total Concrete Street 32.5 6.44 $32,799,540 $655,991 $43,733
Infrastructure Management Program - Asphalt Streets
Street Material: Asphalt with Storm Sewer Number of Minor Roadways Length (Miles) Cost/Sq Ft Total Value of Inventory Useful Life (Years) Replacement Annual Assessment 15 yrs @ 2% Annual Maintenance Asphalt - Major Streets .5 .55 $31.58 $2,182,810 25 years
w/maintenance
$87,312 $8,731 Asphalt - Minor Streets 24 3.57 $30.57 $11,182,078 25 years
w/maintenance
$447,283 $44,728 Total Asphalt Streets 24.5 4.12 $13,364,888 $534,596 $53,460
Total Public Roadways 57 10.55 $ 46,164,428 $1,190,586 $97,192
Street Assessment and Schedule Updated 8.14.19 – AG/CM 15 9/27/2019
August 16, 2019 1st Budget Workshop @ 12:00 p.m. August 29, 2019 2nd Budget Workshop @ 3:30 p.m. cancelled September 5, 2019 2ndBudget Workshop & Take Record Vote 3:30 p.m. September 19, 2019 1st Public Hearing 6:00 p.m. September 27, 2019 2nd Public Hearing 8:30 a.m. October 7, 2019 Adopt Budget; Set Tax Rate @ 4:30 p.m.
16 9/27/2019