Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
Managing the Checkbook<br />
Financial Services Department<br />
The <strong>City</strong>’s Annual <strong>Budget</strong>
Municipal<br />
• Operating <strong>Budget</strong><br />
• Capital <strong>Budget</strong><br />
• Debt Service<br />
• Excise Tax Backed<br />
• Property Tax Backed<br />
• Dedicated revenues<br />
[water/sewer, etc]<br />
• Contingency<br />
Personal<br />
• Food, utilities, clothing<br />
• New home, new car,<br />
home improvements<br />
• Mortgage, car loan,<br />
credit card<br />
• Savings
• Residential sanitation collection rates<br />
unchanged<br />
• Water rates unchanged<br />
• Sewer rates unchanged
• Rose Lane Aquatic Center and Foothills Aquatic<br />
Center open for the summer<br />
• Library hours remain unchanged<br />
• Parks remain open for use<br />
• Police CAT Team services<br />
• Fire Crisis Response services<br />
• All special events except Jazz & Blues Festival<br />
• <strong>Glendale</strong> 11 TV broadcasts
Managing the Checkbook<br />
Financial Services Department<br />
The <strong>City</strong>’s Annual <strong>Budget</strong>
B = Adopted, E = Estimate, D =<br />
Draft
B = Adopted, E = Estimate, D =<br />
Draft
B = Adopted, E = Estimate, D =<br />
Draft
B = Adopted, E = Estimate, D =<br />
Draft
2-Year Lag<br />
B = Adopted, E = Estimate, D =<br />
Draft
B = Adopted, E = Estimate, D =<br />
Draft
Rate<br />
Increase<br />
Dec 2007<br />
(Mid-Year FY08)<br />
B = Adopted, E = Estimate, D =<br />
Draft
B = Adopted, E = Estimate, D =<br />
Draft
Average Minimum Maximum Current Proposed<br />
FY 94-2013 FY 1999 FY 2009 FY 2013 FY 2014<br />
COG Primary Property Tax Rate $0.4400 $0.2432 $0.2252 $0.4974<br />
COG Secondary Property Tax Rate $1.3400 $1.3519 $1.6753 $1.7915<br />
Primary Property Tax to COG $71.17 $64.73 $81.08 $39.77 $70.88<br />
Secondary Property Tax to COG $305.42 $197.13 $655.67 $295.86 $255.29<br />
Total Property Tax to COG $376.59 $261.86 $736.75 $335.63 $326.17<br />
Secondary Valuation $221,830 $147,114 $485,000 $176,600 $142,500
• Taxes<br />
• State Shared Revenues<br />
• User Fees & Charges<br />
• Penalties & Fines<br />
• Development Fees
• “Mortgage Payment” on city facilities<br />
• Determined by a payment schedule<br />
• Normally a 10-15 year term, but can be<br />
up to 30 years depending on market<br />
conditions
• Allows for unforeseen emergencies<br />
• Can cover revenue shortfalls<br />
• Spending <strong>of</strong> it must be authorized by Council<br />
• Rainy day fund is essential for sound<br />
financial planning and fiscal stability
Change language