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HomeMy WebLinkAboutOrdinance 21-22 To: Members of Dublin City Council From: Dana L. McDaniel, City Manager Date: May 17, 2022 Initiated By: Matthew L. Stiffler, Director of Finance Jaime Hoffman, Deputy Director of Finance Melody Kennedy, Budget Manager Meghan Murray, Financial Analyst Re: Ordinance 21-22 – Adopting the Proposed Tax Budget for Fiscal Year 2023 Summary In compliance with the Ohio Revised Code (ORC) Section 5705.28, submitted for your approval is the proposed tax budget for the 2023 fiscal year (calendar basis). The Ohio Revised Code mandates adoption of the tax budget by a political subdivision (taxing authority) no later than July 15th of each year for the next succeeding calendar year. The approved tax budget must be effective prior to filing with the office of the County Auditor, and must be filed with the County Auditor (5705.30 ORC) no later than July 20th. The budgetary laws governing political subdivisions in the State of Ohio can be found in Section 5705 of the Ohio Revised Code. The tax budget has historically been part of the initial stages of the City’s annual budgeting process, and has previously represented the City’s first estimate of its anticipated financial condition, resources and expenditure needs for the coming year. The primary purpose of the Tax Budget is to set property tax rates, and allocate local government fund dollars. The Tax Budget covers the financial completion (actuals) for calendar years 2020 and 2021, a budget forecast for calendar year 2022, and the projection for calendar year 2023. This 2023 projection is usually based on the estimated revenue and expenditure figures previously used to calculate the 2022 Operating Budget and 2022-2026 Capital Improvements Program (CIP). As you know, the City’s updated revenue estimate for 2022, and revenue projection for 2023 will not be available until July/August – after the mandated filing deadline for this document. In no way does adoption of the tax budget grant any legal spending authority of public funds, or commit to any capital improvement projects for the 2023 fiscal year. This is not an appropriation measure. Once the Tax Budget is adopted, it will be filed with the Delaware and Franklin County Auditors, as they are the secretaries for their respective Budget Commissions. Union County does not require the Tax Budget to be submitted to their County Budget Commission. The City’s eligibility to receive the State’s shared revenue, “local government funds” from Delaware and Franklin Counties is contingent upon the timely filing of a Tax Budget. The Franklin County Budget Commission also reviews any property tax levy assessments outside the ten-mill limitation to verify the appropriate millage for those obligations. Office of the City Manager 5555 Perimeter Drive • Dublin, OH 43017-1090 Phone: 614-410-4400 • Fax: 614-410-4490 Memo Ord. 21-22 – Adopting the Proposed Tax Budget for Fiscal Year 2023 May 17, 2022 Page 2 of 4 2 The Tax Budget includes the following columns as marked in the document on Exhibits I through II: (1) Description of the revenue or expenditure type. (2) Actual revenue and expenditure figures for calendar year 2020. (3) Actual revenue and expenditure figures for calendar year 2021. (4) This column represents the current year’s information. It includes 2022 revised budgeted revenue and expenditures which are based on appropriations approved by City Council (including carry-over 2021 encumbrances), plus Q1 supplemental appropriations and increases/decreases in estimated resources actually budgeted through April 2022, and/or information received from the Franklin County Auditor updating real estate tax collection estimates. (5) This column represents the upcoming year 2023. It includes projected budget figures for the 2023 calendar year based on the revenue and expenditure assumptions listed below. Revenue Assumptions: • Income tax projections for 2023 are flat as compared to 2022. Previous estimates projected a decrease in 2023 of 1%. More analysis of income tax trends will be done prior to preparation of the 2023 Annual Operating Budget in late summer/early fall. At that time, more information may be known regarding the income tax impacts of work- from-home. • A triennial real estate tax update was completed in Franklin County in December 2020, which increased the 2021 property tax collections. Actual 2021 property tax collections were used as the basis for the 2023 revenue projection. • Revenue (in most cases) remained horizontal in the City’s 2023 Tax Budget projection, although we are seeing a gradual increase in revenues for 2022 in some Departments. Due to the continuing financial influence of the COVID-19 pandemic, and current economic climate, historical-based increases used to complete the next year projections were not necessarily reliable, and the Finance Team has continued to budget conservatively. • Expiration of COVID-19 federal funding subsidies. Expenditure Assumptions: • For personal services a 2% merit increase was projected on the 2022 budget, which is consistent with prior years and union contracts for 2023. • Each expenditure line item for 2023 was analyzed separately, and non-recurring expenditures from 2021 actual data were not programmed into the 2023 projections. • Approximately $5.1m in Local Coronavirus Recovery Funds (via the American Rescue Plan) is anticipated to be received in 2022. The use of this funding for personnel services in the Safety Fund reduced expenditures for 2022, which causes the expenditures for 2023 to appear skewed, as are the transfers-out reflected in the General Fund. • General Fund operating subsidies to other Funds is expected to return to a pre-pandemic level in 2023. • As of March 22, the inflationary rate is 8.5%, which is the highest it’s been since the early 1980’s. However, for purposes of this Tax Budget, a 0% inflationary rate (in most cases) Ord. 21-22 – Adopting the Proposed Tax Budget for Fiscal Year 2023 May 17, 2022 Page 3 of 4 3 was applied across various spending categories based on 2021 actual expenditures, or 2022 budgeted expenditures as appropriate. This was done not only to provide fiscal prudence, but because the compliance requirements for filing the Tax Budget are so early in the year that it is difficult to determine the financial drivers for 2023 at this time. More in-depth review and data analysis will be completed prior to the preparation of the 2023-2027 CIP and the Annual Operating Budget to provide financial insights into economic conditions and risks projected for next year. Additionally, it will allow the City’s Administration and City Council to leverage the use of more timely figures in making data-driven financial decisions for 2023. Exhibit III is used for all funds that do not derive any revenue from the general property taxes (all funds not included on Exhibits I and II, construction funds and TIF Funds). Exhibit IV includes supplemental information for the Capital Improvements Program as well as the City’s debt schedule. The Capital Improvements projection is reflected in the City’s approved 2022- 2026 Capital Improvements Program (excluding any expenses to be paid from bond issue), and the debt schedule is based on the projection for calendar year 2023. Property Tax Distribution The Safety Fund, the Parkland Acquisition Fund, and the Capital Improvements Tax Fund receive property tax revenues. The allocation of the City’s inside millage (also known as “unvoted” millage), a total of 1.75 mills, can be adjusted on an annual basis. As part of the 2022 – 2026 CIP review, City Council approved the same allocation where 80% (1.4 mills) of the property tax revenue from the City’s “inside millage” is allocated to the Capital Improvements Tax Fund, with the remaining 20% (.35 mills) is allocated to the Parkland Acquisition Fund. Following is a history of approved allocations. The City has the option to reallocate the tax revenue from the inside millage each year as part of the tax budget process, and then again later in the year when the Resolution Accepting the Amounts and Rates is approved by City Council. It is important to note that despite the fact that 20% of the property tax revenue received from the inside millage is allocated to the Parkland Acquisition Fund, the amount allocated within the Capital Improvement Tax Fund may also be used for parkland acquisition and other park-related capital improvements, as well as to acquire rights-of- way for shared-use path projects. Another source of revenue for the Parkland Acquisition Fund includes a $50,000 contribution from Washington Township (annually from 2015 through 2024) in exchange for the City assuming ownership and maintenance for Kaltenbach Park. Expenditures in the Parkland Acquisition Fund consist of County Auditor’s deductions for real estate services, and the annual $750,000 allocation for capital expenditures. As of December 31, 2021, the fund balance in the Parkland Acquisition Fund was $2,893,480. In 2021, $400,000 was expended towards the acquisition of the N. Years General Fund Safety Fund GO Debt Service Fund Parkland Acquisition Fund Capital Improvements Fund Prior to 2000 1.17 0.50 0.08 2001-2006 1.75 2007-2009 0.95 0.80 2010-2022 0.35 1.40 Ord. 21-22 – Adopting the Proposed Tax Budget for Fiscal Year 2023 May 17, 2022 Page 4 of 4 4 Riverview Street properties (Ordinance 54-20). Income Tax The City’s largest revenue source for general operations is obtained through income taxes. In the 2022 Operating Budget, it was estimated that revenue from local income tax would be approximately $94,000,000. Per City Code, 75% or $70,500,000 is programmed in the General Fund, and 25% or $23,500,000 is programmed in the Capital Improvements Tax Fund. As stated previously in this memo, as of the current date, income taxes for 2023 are being projected conservatively at a stable, flat rate. This estimate, as well as the 2022 income tax estimate will be updated in late summer of this year. General Fund Balance The City’s policy is to maintain a year-end balance equal to or greater than 50% of the General Fund expenditures including operating transfers. Based on estimated revenue and expenditures, the 2023 tax budget reflects an estimated 2022 year-end General Fund balance of $50,029,598, and $47,501,803 for 2023. That represents a percentage of General Fund expenditures and operating transfers (excluding advances), equal to 56.2% and 60.5% respectively. When looking at the projected General Fund balance, it is important to remember that these figures assume that all funds appropriated in 2022 and 2023 will be spent, which is rarely the case. This budgeting method is consistent with the City’s past practice of conservatively estimating both revenues and expenditures. Recommendation Staff recommends passage of Ordinance 21-22 at the second reading/public hearing on June 13, 2022. Attachment: 2023 Tax Budget SCHEDULE A SUMMARY OF AMOUNTS REQUIRED FROM GENERAL PROPERTY TAX APPROVED BY BUDGET COMMISSION, AND COUNTY AUDITOR'S ESTIMATED RATES For Municipal Use For Budget Commission Use For County Auditor Use Budget Year Budget Year County Auditor's estimate Amount Amount Approved Budget Year Tax Rate to be Levied FUND Requested of by Budget Amount to be (Include only those funds Budget Commission Derived From Inside 10 Mill Outside 10 Mill which are requesting Commission Inside/ Inside 10 Mill Levies Outside Limited Budget Limit Budget general property tax revenue) Outside Limitation 10 Mill Limitation Year Year Column 1 Column 2 Column 3 Column 4 Column 5 GOVERNMENT FUNDS XXXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX GENERAL FUND 00 0 POLICE/SAFETY OPERATING FUND 500,800 0 500,800 PARKLAND ACQUISITION 797,450 797,450 0 CAPITAL IMPROVEMENTS TAX FUND 3,167,770 3,167,770 0 PROPRIETARY FUNDS XXXXXXXX XXXXXXXX XXXXXXXXX XXXXXXXXX XXXXXXXX FIDUCIARY FUNDS XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX TOTAL ALL FUNDS 4,466,020 3,965,220 500,800 SCHEDULE B LEVIES OUTSIDE 10 MILL LIMITATION, EXCLUSIVE OF DEBT LEVIES Tax Year County Auditor's FUND Maximum Rate Estimate of Authorized to be Yield of Levy Levied (Carry to Schedule A, Column 3) GENERAL FUND: Current Expense Levy authorized by voters on / / , not exceed years. Authorized under Sect. , R.C. TOTAL GENERAL FUND OUTSIDE 10 MILL LIMITATION SPECIAL LEVY FUNDS POLICE/SAFETY FUND, Levy authorized by voters on 11/1981 1.2 500,800 not to exceed ON-GOING years. Authorized under Section , R.C. FUND, Levy authorized by voters on / / FUND NAME: GENERAL FUND EXHIBIT I FUND TYPE/CLASSIFICATION: GOVERNMENTAL -- GENERAL This Exhibit is to be used for the General Fund Only Current Year Budget Year For 2020 For 2021 Estimated for Estimated for DESCRIPTION Actual Actual 2022 2023 (1) (3) (3) (4) (5) REVENUES XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX Local Taxes General Property Tax -- Real Estate 0 0 0 0 Tangible Personal Property Tax 0 0 0 0 Municipal Income Tax 69,182,020 75,807,429 70,500,000 70,500,000 Other Local Taxes 0 0 0 0 Total Local Taxes 69,182,020 75,807,429 70,500,000 70,500,000 Intergovernmental Revenues State Shared Taxes and Permits Local Government 433,119 587,218 430,260 550,000 Estate Tax 0 0 0 0 Cigarette Tax 604 560 500 500 Liquor and Beer Permits 73,352 48,231 70,000 70,000 Gasoline Tax 0 0 0 0 Library and Local Government Support Fund 00 0 0 Property Tax Allocation 0 0 0 0 Other Permits 11,950 8,863 10,000 10,000 Total State Shared Taxes and Permits 519,026 644,871 510,760 630,500 Federal Grants or Aid (8,903) 0 0 0 State Grants or Aid 0 0 0 0 Other Grants or Aid 20,000 56,719 0 0 Total Intergovernmental Revenues 530,123 701,590 510,760 630,500 Special Assessments 0 0 0 0 Charges for Services 748,454 947,997 932,500 932,500 Fines, Licenses, and Permits 3,399,580 3,477,582 3,290,400 3,290,400 Miscellaneous 5,360,300 1,281,634 1,225,500 1,225,500 Other Financing Sources: Proceeds from Sale of Debt 0 0 0 0 Transfers 0 34,038 0 0 Advances 15,700,000 20,000 6,618,800 918,800 Other Sources (Sale of Capital Assets) 0 0 0 0 TOTAL REVENUE 94,920,477 82,270,271 83,077,960 77,497,700 FUND NAME: GENERAL FUND EXHIBIT I FUND TYPE/CLASSIFICATION: GOVERNMENTAL -- GENERAL This Exhibit is to be used for the General Fund Only Current Year Budget Year DESCRIPTION For 2020 For 2021 Estimated for Estimated for (1) Actual Actual 2022 2023 (3) (3) (4) (5) EXPENDITURES XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX Security of Persons and Property Personal Services 0 0 0 0 Travel Transportation 0 0 0 0 Contractual Services 225,243 218,965 306,134 306,135 Supplies and Materials 51,108 47,144 268,076 268,080 Capital Outlay 0 0 0 0 Total Security of Persons and Property 276,351 266,109 574,209 574,215 Public Health Services Personal Services 0 0 0 0 Travel Transportation 0 0 0 0 Contractual Services 478,512 500,420 523,235 549,400 Capital Outlay 0 0 0 0 Total Public Health Services 478,512 500,420 523,235 549,400 Leisure Time Activities Personal Services 5,567,623 4,882,830 5,705,146 5,819,250 Travel Transportation 0 0 0 0 Contractual Services 1,817,341 2,084,517 2,793,478 2,793,480 Supplies and Materials 401,323 421,010 548,306 548,305 Capital Outlay 12,188 14,480 20,032 20,235 Total Leisure Time Activities 7,798,476 7,402,837 9,066,962 9,181,270 Community Environment Personal Services 6,165,844 4,985,754 6,584,876 6,716,575 Travel Transportation 0 0 0 0 Contractual Services 1,162,068 1,168,400 2,717,447 1,168,400 Supplies and Materials 13,828 13,185 43,457 43,460 Capital Outlay 0 0 0 0 Total Community Environment 7,341,739 6,167,340 9,345,781 7,928,435 Basic Utility Services Personal Services 647,842 849,009 833,688 850,360 Travel Transportation 0 0 0 0 Contractual Services 2,931,310 3,568,374 4,491,371 4,491,370 Supplies and Materials 1,973 1,930 32,040 32,040 Capital Outlay 0 0 2,500 2,500 Total Basic Utility Services 3,581,125 4,419,313 5,359,600 5,376,270 FUND NAME: GENERAL FUND EXHIBIT I FUND TYPE/CLASSIFICATION: GOVERNMENTAL -- GENERAL This Exhibit is to be used for the General Fund Only Current Year Budget Year DESCRIPTION For 2020 For 2021 Estimated for Estimated for (1) Actual Actual 2022 2023 (3) (3) (4) (5) Transportation Personal Services 0 1,161,541 1,613,402 1,645,670 Travel Transportation 0 0 0 0 Contractual Services 0 13,350 1,345,880 1,345,880 Supplies and Materials 0 71,692 254,114 254,115 Capital Outlay 0 0 498,787 498,800 Total Transportation 0 1,246,583 3,712,184 3,744,465 General Government Personal Services 12,422,936 13,267,156 14,672,179 14,940,495 Travel Transportation 0 0 0 0 Contractual Services 7,094,242 8,121,964 17,439,688 8,200,000 Supplies and Materials 2,562,697 3,209,089 4,360,478 4,360,480 Capital Outlay 1,496,534 15,039,125 3,500 3,500 Total General Government 23,576,408 39,637,334 36,475,845 27,504,475 Debt Service Interest 0 0 0 0 Other Debt Service 0 0 0 0 Total Debt Service 0 0 0 0 Other Uses of Funds Transfers 23,380,000 24,118,755 15,771,661 18,440,000 Advances 1,400,000 7,236,965 1,536,965 1,536,965 Contingencies 30,253 60,367 242,790 150,000 Other Uses of Funds(Refunds/Incentives/Grants)5,391,530 5,039,998 7,925,121 5,040,000 Total Other Uses of Funds 30,201,783 36,456,085 25,476,537 25,166,965 TOTAL EXPENDITURES 73,254,395 96,096,020 90,534,352 80,025,495 Revenues over/(under) Expenditures 21,666,083 (13,825,749) (7,456,392) (2,527,795) Beginning Cash Fund Balance 49,645,656 71,311,739 57,485,989 50,029,598 Ending Cash Fund Balance 71,311,739 57,485,989 50,029,598 47,501,803 Estimated Encumbrances (3,287,680) (4,122,792) 0 0 Estimated Ending Unencumbered Fund Balance 68,024,058 53,363,198 50,029,598 47,501,803 FUND NAME: SAFETY/POLICE OPERATING EXHIBIT II FUND TYPE/CLASSIFICATION: SPECIAL REVENUE To be used for any fund receiving property tax revenue except the General Fund. Current Year Budget Year DESCRIPTION For 2020 For 2021 Estimated for Estimated for (1) Actual Actual 2022 2023 (3) (3) (4) (5) REVENUE XXXXXXXX XXXXXXXX XXXXXXXXX XXXXXXXX Local Taxes - Real Estate 489,148 500,829 495,812 500,800 Intergovernmental Revenue 68,083 69,437 60,000 60,000 Charges for Services 4,041,641 3,784,060 3,891,000 3,891,000 Miscellaneous 53,909 46,798 17,500 17,500 Other Financing Sources: Transfers 13,380,000 12,559,550 12,011,661 14,000,000 Other Sources 0 0 0 0 TOTAL REVENUE 18,032,781 16,960,674 16,475,973 18,469,300 EXPENDITURES XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX (Identify each program and object XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX code at the same level shown on XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX (PROGRAM) (OBJECT) Security of Persons and Property Personal Services 15,787,027 16,731,503 13,785,887 19,201,860 Travel/Transportation 0 0 0 0 Contractual Services 226,799 222,260 300,774 300,775 Supplies and Materials 229,248 254,906 347,946 347,945 Capital Outlay 14,258 3,548 21,955 21,955 Other Uses(Refunds and other misc) 1,059 2,705 5,500 5,500 TOTAL EXPENDITURES 16,258,392 17,214,922 14,462,062 19,878,035 Revenues Over (Under) Expenditures 1,774,390 (254,248) 2,013,911 (1,408,735) Beginning Cash Fund Balance 894,350 2,668,740 2,414,491 4,428,403 Ending Cash Fund Balance 2,668,740 2,414,491 4,428,403 3,019,668 Estimated Encumbrances (outstanding at end of year)(181,481) (174,125) 0 0 Estimated Ending Unencumbered Fund Balance 2,487,258 2,240,366 4,428,403 3,019,668 FUND NAME: CAPITAL IMPROVEMENTS TAX FUND EXHIBIT II FUND TYPE/CLASSIFICATION: CAPITAL PROJECTS To be used for any fund receiving property tax revenue except the General Fund. Current Year Budget Year DESCRIPTION For 2020 For 2021 Estimated for Estimated for (1) Actual Actual 2022 2023 (3) (3) (4) (5) REVENUE XXXXXXXX XXXXXXXX XXXXXXXXX XXXXXXXX Local Taxes* Property Tax -- Real Estate/Personal Property 2,890,908 3,284,621 3,167,767 3,167,770 Municipal Income Tax (Note 1) 23,060,676 25,269,146 23,500,000 23,500,000 Intergovernmental Revenue 403,461 493,998 299,000 299,000 Fines, Licenses, and Permits 0 0 0 0 Miscellaneous 1,073,123 567,085 5,425,000 5,425,000 Other Financing Sources: Transfers 5,549,495 7,550,000 800,000 800,000 Other Sources-Advances 2,274,937 1,932,000 1,658,000 1,863,000 Proceeds from Bonds 0 0 0 0 TOTAL REVENUE 35,252,599 39,096,850 34,849,767 35,054,770 EXPENDITURES XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX (Identify each program and object XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX code at the same level shown on XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX (PROGRAM) (OBJECT) Contractual Services 48,094 43,583 55,000 55,550 Capital Outlay 21,125,972 33,002,810 55,460,746 28,495,000 Transfers 5,417,156 5,805,934 7,225,715 7,225,715 Advances 0 0 5,500,000 2,000,000 TOTAL EXPENDITURES 26,591,221 38,852,327 68,241,461 37,776,265 Revenues Over (Under) Expenditures 8,661,378 244,523 (33,391,694) (2,721,495) Beginning Cash Fund Balance 31,046,547 39,707,926 39,952,450 6,560,756 Ending Cash Fund Balance 39,707,926 39,952,450 6,560,756 3,839,261 Estimated Encumbrances (outstanding at end of year)(16,610,265) (18,810,746) 0 0 Estimated Ending Unencumbered Fund Balance 23,097,661 21,141,704 6,560,756 3,839,261 Note 1: A portion of this revenue is designated to retire debt for capital improvements. FUND NAME: PARKLAND ACQUISITION EXHIBIT II FUND TYPE/CLASSIFICATION: CAPITAL PROJECTS To be used for any fund receiving property tax revenue except the General Fund. Current Year Budget Year DESCRIPTION For 2020 For 2021 Estimated for Estimated for (1) Actual Actual 2022 2023 (3) (3) (4) (5) REVENUE XXXXXXXX XXXXXXXX XXXXXXXXX XXXXXXXX Local Taxes - Real Estate 722,714 824,989 797,446 797,450 Intergovernmental Revenue 130,741 86,947 126,000 126,000 Fines, Licenses, and Permits 0000 Miscellaneous 833000 Other Financing Sources: Transfers 0000 Other Sources-Advances 0000 Proceeds from Bonds 0000 TOTAL REVENUE 854,288 911,936 923,446 923,450 EXPENDITURES XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX (Identify each program and object XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX code at the same level shown on XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX (PROGRAM) (OBJECT) Contractual Services 12,023 10,895 12,000 12,000 Capital Outlay 0 398,579 756,523 750,000 Transfers 207,000000 Advances 0000 TOTAL EXPENDITURES 219,023 409,474 768,523 762,000 Revenues Over (Under) Expenditures 635,265 502,462 154,923 161,450 Beginning Cash Fund Balance 1,755,754 2,391,019 2,893,481 3,048,404 Ending Cash Fund Balance 2,391,019 2,893,481 3,048,404 3,209,854 Estimated Encumbrances (outstanding at end of year)0 (6,523) 0 0 Estimated Ending Unencumbered Fund Balance 2,391,019 2,886,958 3,048,404 3,209,854 EXHIBIT III List of All Funds Individually Unless Reported on Exhibits l and II (pg 1 of 2) FUND Estimated Budget Year Total Available List All Funds Individually Unless Unencumbered Estimated For Personal Other Total Estimated Reported on Exhibit I or II Fund Balance Receipt Expenditures Services Unencumbered 01/01/23 Balance 12/31/23 GOVERNMENTAL: XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX SPECIAL REVENUE: XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX Street Maintenance & Repair 1,104,385 3,945,000 5,049,385 2,299,765 1,687,675 3,987,440 1,061,944 State Highway Improvement 500,585 206,100 706,685 0 255,535 255,535 451,150 Cemetery 99,060 195,000 294,060 158,815 58,510 217,325 76,735 Recreation 1,416,545 6,710,000 8,126,545 4,879,125 1,536,360 6,415,485 1,711,060 Swimming Pool 269,565 965,000 1,234,565 628,240 400,800 1,029,040 205,525 Permissive Tax 121,795 121,000 242,795 0 100,000 100,000 142,795 Hotel/Motel Tax 2,545,325 4,725,000 7,270,325 1,003,555 4,505,820 5,509,375 1,760,950 Enforcement and Education 69,040 1,000 70,040 2,500 0 2,500 67,540 Law Enforcement Trust 127,870 700 128,570 0 7,000 7,000 121,570 Mandatory Drug Fine 2,880 40 2,920 0 0 0 2,920 Mayor's Court Computer 59,260 17,500 76,760 0 8,000 8,000 68,760 Accrued Leave Reserves 418,465 500,000 918,465 474,250 0 474,250 444,215 Wireless 9-1-1 System 672,575 137,500 810,075 0 126,820 126,820 683,255 Rings Unitrust 600,000 0 600,000 0 0 0 600,000 Coronavirus Relief Fund 0 0 0 0 0 0 0 Local Coronavirus Recovery Fund 0 0 0 0 0 0 0 TOTAL SPECIAL REVENUE FUNDS 8,007,350 17,523,840 25,531,190 9,446,250 8,686,521 18,132,771 7,398,418 DEBT SERVICE FUNDS XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX General Debt Service 2,719,355 13,555,000 16,274,355 0 13,480,580 13,480,580 2,793,775 Economic Development Bond Retirement 353,820 2,069,800 2,423,620 0 2,065,985 2,065,985 357,635 Special Assessment Debt Service 10,385 0 10,385 0 0 0 10,385 2001 Special Assessment Debt Service 142,225 0 142,225 0 0 0 142,225 TOTAL DEBT SERVICE FUNDS 3,225,785 15,624,800 18,850,585 0 15,546,565 15,546,565 3,304,020 CAPITAL PROJECT FUNDS XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX Note: Various construction funds not included. TOTAL CAPITAL PROJECTS 00 0000 0 PERMANENT IMPROVEMENT FUNDS XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX Cemetery Perpetual Care 1,630,670 65,000 1,695,670 0 0 0 1,695,670 TOTAL PERMANENT IMPROVEMENTS FUNDS 1,630,670 65,000 1,695,670 0 0 0 1,695,670 Budget Year Expenditures and Encumbrances EXHIBIT III List of All Funds Individually Unless Reported on Exhibits l and II (pg 2 of 2) FUND Estimated Budget Year Total Available Budget Year Expenditures and Encumbrances List All Funds Individually Unless Unencumbered Estimated For Personal Other Total Estimated Reported on Exhibit I or II Fund Balance Receipt Expenditures Services Unencumbered 01/01/23 Balance 12/31/23 PROPRIETARY: XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX ENTERPRISE FUNDS XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX Water 11,013,195 2,238,100 13,251,295 360,690 1,827,455 2,188,145 11,063,150 Sewer 3,837,335 4,024,750 7,862,085 1,006,890 3,698,705 4,705,595 3,156,490 TOTAL ENTERPRISE FUNDS 14,850,530 6,262,850 21,113,380 1,367,580 5,526,160 6,893,740 14,219,640 Note: Various construction funds not included. INTERNAL SERVICE FUNDS XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXX Employee Benefits Self-Insurance 3,984,750 9,221,350 13,206,100 111,380 10,011,515 10,122,895 3,083,205 Workers Compensation Self-Insurance 13,455 401,250 414,705 0 286,420 286,420 128,285 TOTAL INTERNAL SERVICE FUNDS 3,998,205 9,622,600 13,620,805 111,380 10,297,935 10,409,315 3,211,490 TRUST AND AGENCY FUNDS XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXX Visit Dublin Ohio (aka DCVB) 31,435 1,100,000 1,131,435 0 1,100,000 1,100,000 31,435 Agency (Deposits) 243,875 2,461,800 2,705,675 0 2,461,800 2,461,800 243,875 COIRS 192,325 332,620 524,945 0 332,620 332,620 192,325 Econ Dev - PACE 0 1,298,950 1,298,950 0 1,298,950 1,298,950 0 TOTAL TRUST AND AGENCY FUNDS 467,635 5,193,370 5,661,005 0 5,193,370 5,193,370 467,635 TOTAL FOR MEMORANDUM ONLY 30,549,505 54,227,460 84,776,968 10,925,211 45,250,549 56,175,764 28,601,203 EXHIBIT IV (pg 1 of 2) Estimated Cost DESCRIPTION of Permanent Name of Paying Fund Improvement CIP - Administration Administration (land acquisition, contingencies, sewer ext.) Municipal Facilities 5,395,000 1,695,000 Capital Improvements Tax Fund Computer Hardware/Software/Fiber 32,230,000 1,720,000 Capital Improvements Tax Fund CIP - Parks & Recreation Parks 17,480,000 3,860,000 Capital Improvements Tax Fund CIP - Safety Police 3,160,000 655,000 Capital Improvements Tax Fund CIP - Stormwater System Stormwater Improvements 3,165,000 410,000 Capital Improvements Tax Fund CIP - Transportation Mobility, Bicycles and Pedestrians 11,010,000 2,965,000 Capital Improvements Tax Fund Bridges and Culverts 7,585,000 2,020,000 Capital Improvements Tax Fund Streets and Parking 121,463,000 19,610,000 Capital Improvements Tax Fund and TIF Funds (as appropriate) SUB-TOTAL 221,038,000 36,140,000 CIP - Sanitary Sewer System Sewer Improvements 3,765,000 570,000 Sewer Fund CIP - Water Distribution System Water Improvements 2,840,000 150,000 Water Fund SUB-TOTAL 6,605,000 720,000 TOTAL 227,643,000 36,860,000 Fleet Management 5,975,000 985,000 Capital Improvements Tax Fund and Water & Sewer, Hotel/Motel Total Project Cost 2022-2026 CIP (May Include Other Funding Sources including TIFs) 2023 Projects 13,575,000 2,220,000 Capital Improvements Tax Fund & Parkland Acquisition Fund STATEMENT OF PERMANENT IMPROVEMENTS (Do Not Include Expense to be Paid from Bond Issue) (Section 5705.29. Revised Code) Amount to be Budgeted During Current Year EXHIBIT IV (pg 2 of 2)