FYE 14 Budget prelim - City of Norman

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CITY OF NORMANROOM TAX FUNDBUDGETHIGHLIGHTSBackgroundThe Room Tax Fund is a Special Revenue Fund established to account for a 4% tax on thegross revenues of hotel and motel establishments. According to Ordinance Number O-7980-58,which was passed in May 1980, the revenues are to be set aside and “used exclusively for thepurpose of encouraging, promoting and fostering the convention and tourism development of theCity of Norman. Uses in parks development and in promotion of arts and humanities are thuscontemplated.” On April 2, 2013, citizens approved an increase to the room tax rate to a total of5%.A formula was devised for the distribution of the revenue as follows:Administration Fee (City of Norman): 3%Parks Development (City of Norman):25% of BalanceArts & Humanities (Norman Arts Council):25% of BalanceConvention & Tourism (Norman Convention & Visitors Bureau): 50% of BalanceThe City has authorized agreements between the Norman Arts Council, the NormanConvention and Visitors Bureau, and the City of Norman for the purpose of administering theproceeds of the distribution formula. Among the programs funded by the Room Tax are conventionpromotion activities, which have attracted major new hotels to the City; improvements to Norman’sfour community parks; public artwork; and annual festivals including: Jazz in June, ChocolateFestival, Medieval Fair, and the Norman Music Festival (live alternative rock, Latin, hip-hop,spoken word and other genre). Norman, the “City of Festivals”, is widely recognized for its culturalactivities, which are underwritten by the Room Tax.Special Revenue Fund Financial PoliciesNet income and reserve policies do not apply to Special Revenue Funds since revenues havebeen specifically identified and segregated to be used for special and specific purposes. The amountexpended is directly dependent on the amount of revenue raised. Usually expenditures are made ona project basis rather than on a continuing operational basis, negating the need for operatingreserves.FYE 14 BudgetRevenues from the 5% tax are projected to be $1,550,000, a 29.2% increase from estimatedcollections for FYE 13 and a 36.8% increase from FYE 13 budgeted collections.ANNUAL BUDGET65
CITY OF NORMANExpenditures in FYE 14 are based upon a pro rata share of the estimated revenue, assummarized below:FYE 2014Revenue$1,551,500Administrative Fee - 3% $ 46,545Arts & Humanities - 25% 376,239Parks Development - 25% 7258840Convention & Tourism - 50% 752,478$1,548,146The Parks Development portion of the Room Tax will in large part be allocated to debtservice payments for the reconstruction of the Westwood Park Golf Course that was completed in2003.Five Year OutlookOver the next five years, projected operating revenue of $8,236,661 will be availablethrough this program to support convention, tourism, arts and humanities and parks development inthe City of Norman. Growth in the Norman lodging industry is projected at a 0% increase from theFYE 13 estimate.ANNUAL BUDGET66
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BUDGETTHE CITY OF NORMAN, OKLAHOMAF
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CITY OF NORMANCITY COUNCILMAYORCind
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Table of Contents
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April 10, 2013The Honorable Mayor a
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MAJOR GENERAL FUND REVENUE SOURCES,
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Net Revenue Stabilization Fund bala
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without these personnel. The Genera
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Station #9, on East Alameda) is cur
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On August 28, 2012 the voters of No
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Tax and ratepayer revenues. Financi
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makers, for your effectiveness as l
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CITY OF NORMANHistory of Norman, Ok
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CITY OF NORMANCommunity ProfileNorm
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CITY OF NORMANCommunity ProfileFaci
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CITY OF NORMANCityPublic SchoolEnro
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CITY OF NORMANANNUAL BUDGET9
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CITY OF NORMANINTRODUCTIONThe purpo
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CITY OF NORMANPERSONNEL HISTORY(Hea
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CITY OF NORMANDiscussion of the Gra
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Page 57 and 58: CITY OF NORMANGENERAL FUND EXPENDIT
Page 61 and 62: CITY OF NORMANCONSOLIDATED FUND SUM
Page 63 and 64: CITY OF NORMANCITY OF NORMAN, OKLAH
Page 65 and 66: CITY OF NORMANCITY-WIDE OPERATING E
Page 67 and 68: CITY OF NORMANFINANCIAL POLICIESSev
Page 69 and 70: CITY OF NORMANThe City of Norman’
Page 71 and 72: CITY OF NORMANTHE BUDGET AND ACCOUN
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Page 75 and 76: CITY OF NORMANBASIS OF ACCOUNTINGBa
Page 77 and 78: CITY OF NORMAN5. “Budget summary
Page 79 and 80: CITY OF NORMANfund. No more than te
Page 81 and 82: CITY OF NORMANSECTION 17-211. EXPEN
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Page 89 and 90: CITY OF NORMANDepartment / Division
Page 91 and 92: CITY OF NORMANGENERAL FUND (10)STAT
Page 93 and 94: CITY OF NORMANNET REVENUE STABILIZA
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Page 97 and 98: CITY OF NORMANCOMMUNITY DEVELOPMENT
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Page 105 and 106: CITY OF NORMANNORMAN CONVENTION & V
Page 107 and 108: CITY OF NORMANSEIZURES AND RESTITUT
Page 109 and 110: CITY OF NORMANFYE 14 BudgetFYE 14 p
Page 111 and 112: CITY OF NORMANCAMPUS CORNER TAX INC
Page 113 and 114: CITY OF NORMANART IN PUBLIC PLACES
Page 115 and 116: CITY OF NORMANWESTWOOD PARK FUNDBUD
Page 117 and 118: CITY OF NORMANWESTWOOD PARK FUND (2
Page 119 and 120: CITY OF NORMANA major engineering s
Page 121 and 122: CITY OF NORMANWATER FUND (31)STATEM
Page 123 and 124: CITY OF NORMANWATER RECLAMATION FUN
Page 125 and 126: CITY OF NORMANThe final component o
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Page 131 and 132: CITY OF NORMANCapital Projects of $
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Page 135 and 136: CITY OF NORMANSANITATION FUNDBUDGET
Page 137 and 138: CITY OF NORMANSANITATION FUND (33)S
Page 139 and 140: CITY OF NORMANFive Year OutlookThe
Page 141 and 142: CITY OF NORMANCAPITAL IMPROVEMENTS
Page 143 and 144: CITY OF NORMANEach project in the C
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Page 147 and 148: CITY OF NORMANBackgroundUNIVERSITY
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CITY OF NORMANGeneral Government de
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CITY OF NORMANG.O. COMBINED PURPOSE
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CITY OF NORMANARTERIAL ROADS RECOUP
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CITY OF NORMANRETIREMENT SYSTEMSBUD
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General Fund
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CITY OF NORMANFUND SUMMARYTOTAL GEN
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CITY OF NORMANDEPARTMENT SUMMARYTOT
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CITY OF NORMANDIVISION SERVICE EFFO
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GOALS:CITY OF NORMANDIVISION SERVIC
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CITY OF NORMANGOALS:DIVISION SERVIC
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CITY OF NORMANDIVISION SUMMARY010-1
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CITY OF NORMANPERFORMANCE MEASUREME
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CITY OF NORMANMISSION:DIVISION SUMM
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CITY OF NORMANDEPARTMENT SERVICE EF
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Special Revenue Funds
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CITY OF NORMANFUND SUMMARYTOTAL ART
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CITY OF NORMANFUND SUMMARYTOTAL COM
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CITY OF NORMANFUND SUMMARYTOTAL PAR
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CITY OF NORMANMISSION:Efficiently r
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CITY OF NORMANFUND SUMMARYTOTAL SEI
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CITY OF NORMANDIVISION SUMMARY25- 2
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CITY OF NORMANDIVISION SUMMARY25 -
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CITY OF NORMANFUND SUMMARYTOTAL CAM
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CITY OF NORMANENTERPRISE FUNDSThe E
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CITY OF NORMAN3. Expand the discuss
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MISSION:CITY OF NORMANDIVISION SUMM
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MISSION:CITY OF NORMANDIVISION SUMM
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CITY OF NORMANDIVISON SUMMARY032-55
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CITY OF NORMANDIVISION SUMMARY321-
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CITY OF NORMANFUND SUMMARYTOTAL SEW
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CITY OF NORMANINTERNAL SERVICE FUND
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CITY OF NORMANCAPITAL PROJECTS FUND
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CITY OF NORMANFUND SUMMARYTOTAL UNI
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CITY OF NORMANSPECIAL GRANTS FUNDFY
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CITY OF NORMANWATER FUNDFYE 14 Capi
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CITY OF NORMANWATER FUNDFYE 14 Capi
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CITY OF NORMANSEWER MAINTENANCE FUN
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CITY OF NORMANSEWER SALES TAX FUNDS
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CITY OF NORMANCAPITAL FUNDFYE 14 Ca
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CITY OF NORMANUNIVERSITY NORTH PARK
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Outstanding Debt
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CITY OF NORMANFUND SUMMARYTOTAL GEN
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CITY OF NORMANWATER FUND31-5549Name
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CITY OF NORMAN2007A GENERAL OBLIGAT
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CITY OF NORMAN2008B GENERAL OBLIGAT
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CITY OF NORMAN2010 GENERAL OBLIGATI
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CITY OF NORMANWATER RECLAMATION FUN
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CITY OF NORMAN1995 NORMAN UTILITIES
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CITY OF NORMANSANITATION FUND33-556
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CITY OF NORMAN2012A GENERAL OBLIGAT
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CITY OF NORMAN2012C GENERAL OBLIGAT
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Pension Funds
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Appendix
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CITY OF NORMANBUDGET - A plan of fi
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CITY OF NORMANEMT-P - Emergency Med
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CITY OF NORMANINTERGOVERNMENTAL REV
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CITY OF NORMANPPT - Permanent Part-
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CITY OF NORMANTAXES - Compulsory ch
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CITY OF NORMANINDEXGGeneral Debt Se
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FYE 14 Budget prelim - City of Norman

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