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City of Poulsbo 2012 Budget-In-Brief

City of Poulsbo 2012 Budget-In-Brief

GENERAL FUND SALES &

GENERAL FUND SALES & PROPERTY TAX REVENUEAt a Glance“How does the City spend the Sales Tax and Property Tax it receives?”How is Poulsbo's Sales Tax Spent?$2.8 MillionCapitalEquipment/NewPrograms1%CapitalReplacementEquipment2%Remainderto GeneralFundPrograms97%SALES TAXThe State of Washington collects the8.6% sales tax paid to vendors doingbusiness within Poulsbo city limits anddistributes the City’s portion (1%)back to the City on a monthly basis.The sales tax is recorded in the City’sGeneral Fund. A separate fund is usedfor replacement and purchase of newcapital equipment with a value of$5,000 or greater. In 2012, the CityCouncil decreased plannedexpenditures in this fund and decreasedthe transfer. The City Council has astringent practice of monitoringrevenues and expenditures. They willbe evaluating budget to actualsconsistently under this policy to proactivelyreact to any non-anticipated changes in the City’s revenue and expenditures. Thepolicy of the City Council is to not project revenue’s higher than actual dollars received theprior year. Due to the slowed recovery of the economy, sales tax projections will remainunchanged from the 2011 projections.How is Poulsbo's PropertyTax Spent?$2,070,788GeneralFundPrograms58%StreetOperationFund 31%ParkReserveFund 2%StreetReserveFund 2%StreetReservesPavementRestoration7%PROPERTY TAXThe Kitsap County Treasurer collects theproperty tax levied by the City of Poulsboand remits it to the City on a monthlybasis. The property tax is recorded in theCity’s General Fund. City Council’spractice is to allocate amounts of propertytax as below: 1% to the Street Fund to supportoperations and maintenance of the City’sstreets4.3% to Park Reserves for capital projectswas reduced for 2012 to 1.94%. 4.3% to Street Reserves for capitalprojects was reduced for 2012 to 1.94%. 14% to Street Reserves to fund capitalpavement restoration projects was reducedfor 2012 to 7%.The reduction to transfers will leave moredollars available in the General Fund foroperations.- 8 -

GENERAL FUND USESAt a Glance“Where does the City’s money go?”EXPENDITURES BY PROGRAMThe General Fund accounts for most of theCity’s general operating expenditures (about43% of the total operating budget). Theservices are broken down in ten categories,which include services provided by thefollowing Departments: Council, Finance,Human Resources, Information Services,Municipal Court, Planning, City Clerk, Police,Fire Inspection, Engineering, Parks, Cemetery,and Planning.Debt Service8%Culture &Recreation11%Mental &Physicalless than 1%General Fund Expenditures(by type of government being supported)$9,358,995CapitalOutlay1%GeneralGovernment30%Security ofPersons &Property28%EconomicEnvironment7%Transportation8%PhysicalEnvironment7%Salaries44%General Fund Expenditures(by type)$9,358,995Benefits18%OtherServices16%Supplies3%Transfers6%Intergovernmental3%CapitalOutlay3%Debt-Principal &Interest8%EXPENDITURES BY TYPE“Salaries” and “Benefits” categoriescombined make up the largest expense. Thisis to be expected from a government agency,since their primary function is public service.Of these expenditures, 20% can be directlyrelated to Police Service. ”OperatingTransfers” are transfers made to other fundsfor Capital Outlay, Debt Service, and otheramounts to reserve for future use. “OtherServices” is composed of contracted services,travel, rentals, insurance, utilities, and repairand maintenance.- 9 -

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