Budget Document - City of Urbandale

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FUNCTION: ACTIVITY: Community and Economic Development Tax Increment Financing (TIF) Fund OVERVIEW: This activity reflects all those transactions required by state law to be accounted for in the TIF special revenue fund. Activities include property tax rebates, and debt service payments on TIF-supported portions of the city’s outstanding bond issues. TAX INCREMENT FINANCING FUND F I N A N C I A L S U M M A R Y FY 2009-10 FY 2010-11 FY 2010-11 FY 2011-12 ACTUAL ADOPTED REVISED ADOPTED Personal services - - - - Contractual & supply service - - - - Capital outlay 3,437,171 4,535,636 4,517,348 4,729,414 Total expenditures $ 3,437,171 $ 4,535,636 $ 4,517,348 $ 4,729,414 Fees - - - - Grants - - - - Other 3,435,027 4,026,164 4,026,164 4,619,909 Total revenue $ 3,435,027 $ 4,026,164 $ 4,026,164 $ 4,619,909 Net amount (added to) used by fund balance $ 2,144 $ 509,472 $ 491,184 $ 109,505 SIGNIFICANT BUDGET IMPACTS: This budget includes: An increase of $225,000 in TIF rebate payments, which reflect the declining progression of the current property owners currently participating in the rebate program, as well as several new developments starting the program. The City’s program allows for properties meeting certain criteria, to request a 5-year declining balance rebate of 75%, 60%, 45%, 30% and 15% of property taxes paid on improvements to their parcels in the Northwest Market TIF District. A decrease of $31,200 in transfers out, which reflects the funds needed to pay the TIF-supported portion of the City’s outstanding general obligation debt. All general obligation debt is required by state law to be paid from the City’s Debt Service Fund. When the City issues debt specifically related to TIF areas, a TIF revenue certification is completed annually to request a portion of the TIF increment for use in generating property tax dollars specifically for the retirement of this debt. Also included in the certification are amounts needed to support the above mentioned rebate program. When these certified TIF property tax dollars are received, they are required by law to be receipted into the TIF Special Revenue Fund and then are either transferred to the Debt Service Fund as noted above, or retained in the fund for payment of rebates. FUTURE BUDGET CONSIDERATIONS: When the State of Iowa code is changed to allow for the payment of TIF-supported general obligation debt service to pay directly from the TIF Fund, versus transferring those monies to the Debt Service Fund for payment, a change in procedure will be required to reflect the new requirements. 167
COMMUNITY & ECON. DEV. FY 2009-10 FY 2010-11 FY 2010-11 FY 2011-12 INCREASE FY 2012-13 ACTUAL ADOPTED REVISED ADOPTED (DECREASE) ESTIMATE 125 TAX INCREMENT FINANCING FUND PERSONAL SERVICES 01 Salaries $ - $ - $ - $ - $ - $ - 02 Overtime - - - - - - 03 Part-time - - - - - - 04 Witness fees - - - - - - 06 FICA - - - - - - 07 Retirement - IPERS - - - - - - 08 Pension - - - - - - 09 Group insurance - - - - - - 10 Unemployment - - - - - - 11 Allowance - - - - - - Sub-Total $ - $ - $ - $ - $ - $ - CONTRACTUAL AND SUPPLY SERVICES 21 Advertising $ - $ - $ - $ - $ - $ - 22 Recruitment - - - - - - 23 Professional services - - - - - - 24 Contributions to other agencies - - - - - - 27 Data processing - - - - - - 28 Dues and memberships - - - - - - 29 Insurance - - - - - - 32 Uniforms and laundry - - - - - - 35 Printing and copying - - - - - - 40 Building and grounds maint. - - - - - - 41 Vehicle and equipment maint. - - - - - - 46 Training and development - - - - - - 48 Utility service - - - - - - 49 Petty cash - - - - - - 51 Maintenance supplies - - - - - - 54 Minor equipment - - - - - - 55 DARE expenditures - - - - - - 56 Vehicle maintenance supplies - - - - - - 57 Vehicle operation supplies - - - - - - 58 Office supplies - - - - - - 59 Operating supplies - - - - - - 60 Safety and medical supplies - - - - - - 61 Refunds - - - - - - Sub-total $ - $ - $ - $ - $ - $ - CAPITAL OUTLAY 71 Equipment $ - $ - $ - $ - $ - $ - 72 Furniture and fixtures - - - - - - 73 Equipment replacement fund - - - - - - 74 Office equipment - - - - - - 75 Operating equipment - - - - - - 76 Property improvements - - - - - - 77 Economic development- TIF rebates 858,700 1,670,000 1,825,000 1,895,000 225,000 1,900,000 79 Books, films and recordings - - - - - - 97 Transfers out to Debt Service 2,578,471 2,865,636 2,692,348 2,834,414 (31,222) 3,013,143 Sub-total $ 3,437,171 $ 4,535,636 $ 4,517,348 $ 4,729,414 $ 193,778 $ 4,913,143 91 Debt retirement $ - $ - $ - $ - $ - 95 Contingency - - - - - TAX INCREMENT FINANCING FUND $ 3,437,171 $ 4,535,636 $ 4,517,348 $ 4,729,414 $ 193,778 $ 4,913,143 168
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CITY OF URBANDALE Revised FY2010-11
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2. Public Safety Staffing - The Cit
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this review, an outside consultant
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The following charts graphically de
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anticipates an addition to the gene
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estimated that earnings from the Ci
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It should be noted that an internal
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As noted above, total expenditures
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estimated increase in utilities. Du
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Cemetery - A columbarium was instal
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system updated in 2008, and the req
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Table of Contents Page City Manager
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FY 2009-10 FY 2010-11 FY 2010-11 FY
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FY 2009-10 FY 2010-11 FY 2010-11 FY
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ROAD USE SUMMARY FY 2009-10 FY 2010
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FY 2009-10 FY 2010-11 FY 2010-11 FY
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PUBLIC SAFETY FY 2009-10 FY 2010-11
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FUNCTION: ACTIVITY: Public Safety A
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PUBLIC WORKS FY 2009-10 FY 2010-11
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FUNCTION: ACTIVITY: Culture and Rec
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Budget Document - City of Urbandale

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