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Home My WebLink About02 - 2015 Mayor Budget Narrative.pdfCity of Ithaca 2015 Mayor's Budget Narrative Table of Contents Page 2015 Financial Goals 1 2015 Budget Summary Narrative 2 -9 Summary of Revenues 2012 — 2017 10 -12 Summary of Expenses 2012 — 2017 13 -16 Summary of Health Insurance 17 Tax Rate /Assessment History 18 Fund Balance History General Fund 19 Summary of Water and Sewer Rates 20 Debt Limit Schedule 21 Constitutional Tax Margin Schedule 22 Summary of Retirement Cost 2015 23 Summary of Revenues Detail 2015 24 -28 Summary of Assessment Data 29 Summary of Tax Exempt City Property 30 Summary of Material Items 31 -36 Summary of State Aid Received /Proposed 37 Summary of Cornell University Contribution 38 Financial Goals for the City of Ithaca heading into 2015: Increase /Maintain Fund Balance Fund Balance needs to be 10 -20% of operating revenues /expenses Currently fund balance is 14.3% of expenditures Allows for greater flexibility Reduce debt load Reduce reliance on debt (borrowing) for payment Pay by cash where possible Debt service is 12.8% of budget Reduce tax burden on city taxpayers Keep tax rate increases to a minimum Assessment increases shifted to new construction and commercial Proposed 2015 tax rate at $12.84 per $1,000 assessed value Stay within State Property Tax Cap if possible Continue to move operating expenses from borrowed capital funds to G/F Every year move streets and road construction costs to operating Every year move equipment acquisitions from capital to operating We are reducing our reliance on borrowing for operating funds Purchase more efficiently and economically Use more state contract, cooperative purchasing and bidding Restructure some city departments to produce operating efficiencies Maximize revenues and minimize costs Increase fees where applicable and lower costs City of Ithaca 2015 Mayor's Budget Summary Narrative Notes October 1, 2014 General Fund Revenues: Property Tax Information: Assessments increasing with full valuation, as a result, a tax rate reduction and a tax levy increase; property tax cap in place since 2012 Total 2015 budget is $66,734,799, allocated $53,818,749 general fund, $4,983,329 water fund, $5,794,623 sewer fund, $488,016 solid waste fund, $850,082 sidewalk districts, and $800,000 stormwater fund compared to 2014 budget of $64,542,735 The 2015 tax rate is $12.84 per $1,000 assessed value, this represents a .21% decrease in the tax rate from the 2014 rate of $13.12, and the dollar decrease from the 2014 rate is $0.28 The total tax levy increase for 2015 is 3.89 %; the 2014 tax levy increase was 2.10 % ... the property tax cap for 2015 is 2.29 % ... first reduction in tax rate since 2009 ... we will be over the tax cap The taxable assessment value for 2015 is $1,660,375,229; the 2014 taxable assessment was $1,564,032,345 a $96,342,884 increase from 2014, a 6.16% increase Using the same tax rate from 2014, $13.12, would bring in additional $1,264,019 of tax revenue in 2015 Every one percent change in the city tax rate would generate an additional $213,192 in revenue Based on the projected 2015 tax rate a $190,000 city home will pay $2,440 in city tax, that equates to a $53 decrease in taxes per year from the 2014 taxes of $2,493 for the same value property The property tax revenue would increase from the 2014 amount of $20,520,104 to the 2015 amount of $21,319,218, a $799,114 increase from 2014, a 3.89% increase Tax - exempt property percentage in the city for 2015 is 59.20% down from 60.46% in 2014 Sales Tax Sales tax revenue collections are up from 2014, we are heavily reliant on sales tax revenue and the economy and collections remains uncertain Sales tax revenue budget increased from 2014 $13,123,000 to 2015 $13,425,000 an increase of $302,000 or 2.3% from 2014 budget, our 2015 budget amount assumes a 2% increase over the current projected actual sales tax revenue for 2014 Sales tax inflationary factor used is 1.5% The sales tax budget number will be reviewed during October after the next quarterly report is received from the State for a possible adjustment; the city /county dispatcher agreement is funded through the sales tax agreement, and for 2015 the amount is $120,000 The economy remains unsettled and continues to have an uncertain impact on the 2014 and 2015 sales tax activity Other Revenue Other revenue amounts continue to be adjusted to realistic, historic and current trends; an inflationary factor is also used Payments in lieu of tax increased related to PILOT and abatement programs established -2- Parking revenues reflect CPI permit rate adjustments for all city garages per applicable parking agreements; the budget assumes meter rate changes during 2015 Parking revenue for daily collections and permits is estimated at $1,361,000 for 2015 ... The amount assumes the full operation of Green Street Parking Garage surface lot, an Inlet Island lot parking fee, anticipated increase of parkers, event parking fee continued at $5, no free county juror parking at city garages, permit increases based on CPI and equipment improvements in downtown parking garages Parking revenue for meters is estimated at $1,080,000 for 2015, a meter rate increase to $1.50/hr will take place, with hope that long term parkers will move to the garages Recreation rates and revenue increased or decreased per Youth Bureau staff recommendations Youth Bureau revenue includes $55,620 from Town of Ithaca for Cass Park facility Golf Course rates increased or decreased based on actual activity and rate changes Site Development fees estimated at $75,000 to reflect continued active development in the city We are expecting to continue our contract with the School District for civil service Fire Protection Service represents the Town/City fire service contract; the Town of Ithaca share for 2015 fire service is 32.16 %, down from 32.85 % in 2014, a new fire contract is being negotiated for 2015 Projecting interest rates to remain low in 2015, interest revenue for 2015 is calculated at $75,000 Rental of property includes rental income from retail space under the parking garages Expecting building permit activity to remain high, estimated at $700,000, the same level as 2014 as estimated by the Planning and Building Department for various Cornell and City projects; several Collegetown projects expected Fines and Bail revenue estimated at $1,180,000 for 2015, reflective of actual activity and continued elimination of the waiver of first ticket program Sale of property assumes the sale of the parking lot for the Hotel development during 2015; estimated $400,000 of revenue for the various sales (one -time revenue source) Gifts and donations reflect contribution from Cornell University per MOU, the contribution increases by the CPI annually; the estimated CPI used for 2015 CU payment is 1.6 %; the CU contribution for 2015 is estimated at $1,290,629 Transfers from other funds for water /sewer decrease related to payroll and G/F overhead changes, reflects a move away from the current 35% 65% allocation of water and sewer fund activity to a 40%/60% split, 2% decreases were budgeted Transfer from Capital Fund represents interest, unneeded project authorizations and funding reimbursement of salaries related to capital projects; the amount is used to pay down debt Transfer from Joint Activity reflects a 8.5% G/F overhead allocation of the Wastewater Treatment Plant per the established Joint agreement Transfer from Debt service relates to bond payments from bridgework or other projects funded by Federal and State aid fronted by city funds Transfer from Stormwater fund reflects the amount of reimbursed activity in the DPW accounts for stormwater work State Aid Per Capita reflects a flat amount from the 2014 Budget, the $2,610,398 amount is the estimated payment for 2015, the new AIM payment from NYS is made to help reduce the tax burden of the local taxpayer, due to the State's fiscal issues we have kept this amount unchanged in 2015 from the 2014 actual amount expected to be received of $2,610,398, we must be careful with this amount as additional cuts may take place if the NYS economy does not improve...this is an uncertain revenue source -3- Mortgage tax revenue is increased to reflect current trends, continue to carefully watch the housing market State Aid for security service related to city court has been taken over by the State Court System; no further payments will be made; the court system cleaning aid is expected to decrease by $5000 for 2015 State aid for youth includes both Youth Bureau and GIAC activity plus a $40,000 member item to help GIAC purchase a new Wheelchair accessible Van The $66,600 Federal account for other home and community reflects the 2015 Hospitality grant revenue No Federal Aid youth programs are reflected in the budget; if grants are received in 2015, we will change the budget at time of receipt Total general fund revenues for 2014 were $52,300,452, 2015 revenues are budgeted at $53,422,553, up $1,122,101, an increase of 2.1% Revenues other than property taxes are budgeted at $32,103,335 for 2015, up $322,987 from the 2014 budget of $31,780,348, an increase of 1.0% General Fund Expenditures: Current August Consumer Price Index (CPI) is 1.7 %, the average CPI index for 2015 to -date is 1.8 %, and the last three year (2013, 2012, and 2011) average is 2.3% Other Service A ,-encies: City local share for other community service agencies is not funded in 2015; we continue to fund other human service agencies through the sales tax agreement in the amount of $344,000 for 2014 Human Services Coalition funded at $33,026 for 2015, an (1 %) decrease from 2014 TCAD funded at $15,038 for 2015, a (1 %) decrease from 2014 Community Police Board funded at $700, a (53 %) decrease from 2014 Dog Control Contract, SPCA funded at $60,375 no change from the 2014 Budget ... we also included a $2,500 amount for dog enumeration Southside Center city contract funded at $145,877, a (I%), decrease from the 2014 Budget, total funding for Southside includes DPW building maintenance City Hall security is funded at $94,000 for 2015; this represents a 13% increase from the 2014 amount of $83,000; the amount is part of the allocated city hall building costs in the general fund; reflects actual cost City Departments: All department costs reflect CSEA Comp Study salary increases per MOU in place for CSEA Admin, DPW and Confidential employees; the CSEA Admin, IPFFA, COU have contracts in place ... the Executive, CSEA DPW and PBA unit contracts are currently in negotiations ... for contracts not in place, all estimated salaries include no increase for 2015 Management employee's salaries are not increasing unless the Management Comp plan increases salaries or separate increases have been made; comp plan Phase I increases have been placed in the 2015 restricted contingency account ... a 20% health insurance contribution for management continues and a three tier prescription plan also continues in 2015 All departments 2015 funding were based on their (1 %) funding requests including salaries, some departments were adjusted up or down from the negative 1 % submittal... all unfunded positions are vacant unless noted... percentage change includes city hall building cost increase of 4.7 %, if applicable; City Department's budget funding for 2015 are noted as follows: Chamberlain's Office, increases by 2 %, CSEA compensation (comp) study, contractual salary increases, will slowly merge with Controller's Office during 2013 -2015 Traffic Violations, increase of 1 %, mainly CSEA comp study, contractual salary increases Controller's Office, increase of 4 %, CSEA comp study, contractual salary increases, slowly merging with Chamberlain's Office during 2013 -2015, GASB 45 and Audit fee contractual increases Public Information/Tech, increase of .2 %, CSEA comp study, contractual salary increases, decrease for Public information equipment expenses City Attorney's Office, increase of 2 %, CSEA comp study, contractual salary increases, increased outside legal contracts Human Resources, decrease of (1.7 %), mainly related to unfunded health and safety officer position due to retirement, includes CSEA comp study and contractual increases and the Deputy Director hours increased to 40 Mayor, increase of 3 %, CSEA comp study, contractual salary increases, contractual line increases Legislative, increase of 1.3 %, contract account changes, employee recognition program continues unfunded Police Department, increase of 3.5% mainly due to the increase in funding for officers and the CAT officers, SWAT budget funded at $40,000 Fire Department, increase of 2.7 %, mainly due to contractual salary increases, funded equipment and overtime increase Planning, Building, Zoning & Economic Development Department, increase of 2.5 %, CSEA comp study and contractual salary increases, removed Sustainable Strategies contract for one year, included funding for sustainable planner with Town of Ithaca, hourly increases for Deputy Director of ED 35 to 40, Senior Planner from 25 to 30, Senior Planner from 35 to 40 and a promotion of Planner to Senior Planner Youth Bureau, increase of 1 %, CSEA comp study, contractual salary increases and living wage increases, some increases offset by increased revenue, GIAC, increase of 11 %, comp study salary increases, added living wage adjustments and changes to contractual accounts, includes a Van purchase mostly offset by member item state aid and includes Haley pool lease payment, includes position upgrades Finance Clerk at 25 hours and Program Assistant to Program Leader DPW Most of the Department of Public Works (DPW) reflects a mainly flat spending level from 2014 levels, all accounts include comp study and contractual salary increases Combined many accounts for better functioning of DPW activity; A1620 Building Systems now includes A1627 City Court and A7312 Southside Community Center; A3311 Traffic Control now includes A3312 Traffic Signals and A5182 Street Lighting; A5111 Highways now includes A5112 Street Patching, A5120 Bridge Maintenance, A5142 Snow removal and A5410 Sidewalks; A5651 Parking Systems now includes A5652 Seneca Street Garage, A5653 Green Street Garage, A5654 Dryden Road Garage and A5656 Parking Administration; A7111 Parks and Forestry now includes A7112 Stewart Park, A7114 Stewart park Carousel and A8810 City Cemetery City Court and Police Building Maintenance funded in DPW accounts -5- Stormwater expenses moved to the Stormwater Fund Maintained snow removal salt material cost at $110,000 Retirements accounted for in various accounts Community Service Officers now accounted for in Parking Systems Golf course is moving closer to breaking even Adjusted several gas and oil accounts as a result of changing fuel prices Utility accounts were adjusted according to activity and trends Sidewalk program is mostly contract work down out of house in special assessment fund Bridge crew continues to be fully funded in 2015 Bridge System Engineer and Assistant Civil Engineer are funded from various capital projects Several seasonal and overtime accounts were adjusted Superintendent account has intern from Cornell Local Roads Program to update street condition survey Commons account includes $50,000 for commons maintenance starting September 2015 Other Contracts TCAT funded at $829,432, 0 %, no increase from 2014, note that the amount in budget is net of city's $364,000 sales tax agreement payment to TCAT made by the County Cayuga Garage Financial Assistance Agreement (FAA) is funded for 2015 at $960,000, this reflects a 5% increase from 2014, principal debt payment and utilities for Cayuga Garage increasing... the FAA requires an annual appropriation by Council; if the city does not appropriate these funds, the city defaults on the agreement Gadabout funded at $56,000, a 0 %, no increase from 2014 Contribution to Ithaca Downtown Partnership (IDP) funded at $61,000, remains at the 2014 level Insurance /Contin ,-ency/Settlement/Other payments Unallocated Insurance costs continue to increase Undistributed insurance costs funded at $851,000, reflects a 9 %, $71,000 increase from 2014; it appears insurance costs going up as a result of claim activity and industry trends Judgment and claims funded at $80,000 for costs related to annual settlement expenses; this area has seen increased activity over the last few years Contingency Account is funded at $442,920 for 2015; represents $130,920 in unrestricted contingency funds and the following funds in the restricted contingency account; $130,000 for Litigation /Mediation/Arbitration activity, $102,000 for Managerial increases including benefits related to Phase I of the Management Compensation Plan, $60,000 for Retirement Buyouts and $20,000 for an outreach Coordinator Lease payment of principal and interest for Energy Performance Contract is funded at $220,109 Layoffs /Staff Reductions /Staff Increases No layoffs in the 2015 budget We continue to look at operational efficiencies to reduce overall costs In 2015, we are adding the following positions; Two (2) Community Action Team Police Officers starting May 1, 2015, includes full funding for 5 previously vacant police officers Funded positions from Capital; Bridge System Engineer ($60,731); Assistant Civil Engineer (56,635) Several end of year 2014 and early 2015 retirements of city workers were factored into overall salary costs Kos We did increase hours of the following positions; Deputy Director of HR from 30 hours to 40; Deputy Director of ED from 35 to 40; Senior Planner from 25 hours to 30; Senior Planner from 35 hours to 40; a couple title changes in YB and GIAC to reflect actual job duties We are not offering a retirement incentive in 2014 Fringe Benefits: Health insurance costs continue to increase and retirement costs see a reduction, retirement costs expected to slowly decrease for 2016 and 2017 Regular retirement reflects full funding of costs, slight decrease in overall costs Regular retirement for the General Fund is funded at $1,742,824 for 2015, up from $1,671,777 in 2014, this is a 4.3 %, $71,047 increase from 2014; the increase here relates to added general fund employees, comp plan increases and a re- allocation of expenses due to past retirement costs, word of caution, this number is highly tied to the economy; when the actual 2015 invoice is received mid - October, we may have to adjust this number up or down, rates remain high, but the trend is leveling Police and Fire retirement reflects a full funding of costs, funded at $2,608,560 in 2015, a 12 %, $358,699 decrease in overall cost from 2014 of $2,967,259: when the actual 2015 invoice is received mid - October, we may have to adjust this number up or down, rates remain high, but the trend is leveling The total 2015 regular retirement for all funds is estimated at $2,670,615 down from $2,647,288 in 2014, a 1%, $23,327 decrease from 2014; when the actual 2015 invoice is received mid - October, we may have to adjust this number up or down; we have no retirement exclusion allowed under the property tax cap calculation this year as rates decreased FICA/Medicare funding at $1,742,824 for 2015 includes the salary increases from contractual increases and estimated salary increases for 2015, a 4.3 %, $71,047 increase in costs Workers Comp rates are estimated to decrease, the cost for 2015 is decreasing to $734,634, a 7.3 %, $57,618 decrease from 2014, note that this is estimated and a possible adjustment may be made prior to the final budget adoption once actual invoices are received; claim activity has recently decreased Unemployment Insurance is estimated to decrease by $12,000 to $58,000 for 2015, the 17% decrease relates to the 2014 current activity and 2015 trends, including any estimated layoffs Health Insurance budget costs are increasing by 4 %, $325,249 employee contributions factored to help offset the estimated rate hike, G/F funding at $9,022,300 for 2015, the 2014 claim period has been steady; the city continues to participate in the health consortium, which should help stabilize future health insurance costs, but changes at the Federal level and the need to strengthen our consortium reserves will increase premiums overall... premium equivalent rates in the consortium will increase by 5.0 % ... overall health insurance costs are estimated to top $11,300,000 in 2015; we are assuming employee contribution increases by Police and Executive employees for 2015 Dental Insurance decreased by (12.0 %), $11,000 mainly due to activity history Daycare and tuition costs are adjusted to reflect current and estimated activity Personnel costs account for 72.5% of the General Fund Budget, $39,002,580 Salary costs are $22,831,886 and fringe benefits are $16,170,694 Debt Service: Debt payments and debt load remain high Debt service payments for 2015 are funded at $6,812,283, an increase of $344,366 from $6,467,917 in 2014, a 5.3% increase; this includes the energy performance contract lease payments of $220,109 Interest rates remained low in 2014 and we took advantage of the lower rates; we expect rates to remain low during 2015, but there are some signs that rates will start to inch upward; City maintains -7- Aa2 Bond rating as recalibrated by Moody's; we took advantage of the low rates by locking into long- term rates and refinancing during 2014 In 2015, we are paying off $5,764,677 in principal and issuing $3,992,460, a reduction of $1,772,217...a small reduction... and we caution that interest rates will increase over time Debt limit issued and authorized at 77% exhausted, limit is $108,719,072, and the city has $25,438,259 available for debt Debt service accounts for 12.8% of 2015 budget as compared to 12.7% of the 2014 budget Total debt outstanding at 12/31/14 is $123,599,220 as compared to 12/31/13 of $109,141,796, an increase of $14,457,424, 13.3 % ... of the debt outstanding $13,890,856 relates to the IAWWTF The need to reduce our debt load is real and our budgeted activity in both debt principal payments and authorized projects should reduce the debt going forward if the budget is followed Total General Fund expenditures for 2014 were $52,922,474, 2015 expenses are budgeted at $53,818,749, up $896,275 from 2014, a 1.69% increase Fund Balance: Current Fund Balance, 12/31/13, for the General Fund is $7,334,989, of which $3,875,825 is unassigned and $3,459,164 is assigned, restricted or nonspendable; this represents 14.34% of operations The 2015 budget appropriates $396,196 of fund balance to balance the budget We appropriated $622,022 in General Fund balance in 2014 and it remains to be seen if the full amount will be needed for 2014 The $396,196 appropriated fund balance represents 5.4% of the current fund balance We don't recommend an annual appropriation of fund balance to balance the budget, but can live with this appropriation as we have not used as much as estimated over the past few years ... the higher the fund balance the more future financial flexibility the city will have ... if all fund balance appropriation were used in 2014 and 2015, the fund balance would be approximately at 11.7% of operations... we will not be able to continue large appropriations of fund balance for much longer ... if we get opportunity over the next month we will look for additional reductions in the 2015 fund balance appropriation Other Funds Water and Sewer Funds: Rates continue to increase as costs increase; consumption down The 2015 water rate is recommended at $5.62 per 100 cubic feet of usage, this reflects a 10% increase from the 2014 rate of $5.11 The 2015 sewer rate is recommended at $5.47 per 100 cubic feet of usage, this reflects a 0% increase from the 2014 rate of $5.47 In both the water and sewer fund we are recommending not to use fund balance to balance the budgets for 2015, the water and sewer fund balance accounts have been used to help offset needed rate increases for several years and can no longer provide such subsidy; the combined increase in rates is 10% compared to 8% in 2014... in the water fund we use some capital reserve to offset rate increases Consumption of water decreased 3.21 % and consumption of sewer decreased 9.27% We have factored into both funds adjustments of revenue related to the water meter replacement project recently completed by Johnson Controls The lease payment for the water meter replacement project is included in both funds; the total payment is $199,785, allocated to each fund based on normal percentage allocation Water expenditures for 2015 are $4,983,329 a $774,436 increase from 2014, 18.4% increase Sewer expenditures for 2015 are $5,794,623 a $224,093 decrease from 2014, 3.7% decrease Fund allocation is moving away from the current allocation of, water at 35 %; sewer at 65 %, we will slowly move toward a 40% and 60% split of expenses The water source decision will have an effect on the future water costs and water rates; it is expected water costs and rates will continue to rise as debt service costs related to the rebuild of the water plant increase The reason for the large increase in water expenses relates to the change to a 40% split of operations and the continued increase in debt related to the water plant construction The BPW will review the recommended water and sewer rates and make a recommendation for rate increases Solid waste Fund: Fund still has an operating deficit, tag prices are expected to remain the same in 2015; a yard waste fee continues in 2015 The 2015 trash tag rates are recommended to remain at $3.75 per tag (30lbs), or a flat monthly hauling rate plus a lesser tag value will be reviewed, also reviewing possible use of bags instead of tags The yard waste fee will remain at $1.50 per 50lbs The fund will be examined by staff and the BPW for possible other operational efficiencies and rate increases; possible changes include; flat rate fee, out sourcing the service and route adjustments A general fund transfer will not be needed in 2015 The Solid Waste Fund continues to have an insufficient fund balance The total fund expense for 2015 is $488,016, a $126,636 decrease from 2014, a 20.6% decrease A decrease in tonnage collection continues, but the shift to 4 day collections and a lower operational cost as a result are driving the decreased costs of the fund Paper Bags only for yard waste collection Capital Funds: With budgeted authorized capital projects and the debt principal payments scheduled for 2015 we should make some progress on our goal to reduce the debt load The total 2015 Capital Expenditure is budgeted at $4,792,560 as compared to 2014 of 4,404,500 The 2015 CHIPS capital program is $436,000, but will be used by in -house crews Our plan to continue to move equipment acquisitions from capital borrowing to the General Fund will again be slowed in 2015 due to the negative economic situation of the budget ... we continue to limit our replacement of machinery, vehicles or equipment... this will become a problem if done too many years in a row The net city bonded cost for 2015 is $3,992,460 after funding from other sources is received The capital list is mainly comprised of smaller type projects with the largest of projects the $1,080,000 final phase of the Seneca Street Parking Garage reconstruction It still remains a good time to borrow with the low interest rate market, but it's important to reduce the overall debt load for the city because at some point the interest rates will start increasing M N C O U a) a` � N Q Ca Ca O r M t Q O O i m N moo O N N U � o Or Ca Ca E E M L O U C 0 N 0 O m rn N V V O w O N O N O O O O (0 M W v O 0 N 0 r r 0 0 0 (0 O h V W O 0 O O O O O W O M M O N 0000 Ov OInr r N MTN M O 000 O O O O O ' (O r U) W (O O W O m M M P M ' m t0 P � 70 4 P to 0 v 1t)N 0 1f) O ry O oD NMOmOO V' O M O O O r O M t0 V'oDc m 0 v ' (Or W O 0(O M O ' r W F It Nr l\(D we N(o W m rMm0 W mmo W W Co M N ON' mNt` NrmM tD W m tlj o NfDm OD O'r N -or-- Mm ry nNrm v0 M F, Un W co MN LLD MOmmm co mNr W le N M OM 04 co Nr o W o Q M M M N o m LL w 6&6&6&6&6&6&6&6&6&(»6& »6&(»(»(»(»6&w6&fA 6&6&6&6&6&6&6& (»(»6&(»6&6&6&w6&6&6&6&ww6&6&6&(»www(»6& 000 o 000 O O 00 O O (00000 O t('f N O 000000010 P 100000 (000 O M 00 to o O V O V' 0010N 000 O t0N0(o0 ' O V' ' W OOOONOI� 0010 N f00000tON O O ' W 010 (� ' W O ' Nm(?clic 0 (0 O t01� O L LLJ(o001� MN Nt000r (0N m W tl r 00 O Uo w (o 10 r 'V fh M O M m M Co m N 0 N o N m V I� F It M m to to Co V r o (� O r N r m N Co M W O O m I� m M M O w 1p 10 n r r m ro Lo r (D 1- m V V N r m M n C9 MN OtDN r v M O(0 r M M r r iD W 0 0 M M < M N 0 m a w (n(»f»ww(n(nww(s(» 6% e »fn(»(»w(a(n(n6s(n(»6& (»61).e%6»( a6& (n6&(nw(nw6% e»f»(13. 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EH U) U) UJ O M 0 O N N O o O O O O M O N N CD N V °W W W N O 0N Q CO Cfl m v "0 ¢ m LO V 69 U3 EA EA PA U) U3 U3 O O CO O O N �- m N z CO I-- W m L- h OOOOO mmmmm m m m m m m m m ° O O N () CV ¢ N U '0 LU W U z z g ¢ m W _ u a p W W U �_ ) DQ W pH m Z Z >? p ZW fn JLLZ -1 n LL Z) LL � Z LL ¢m m Q 2 W ¢ H�H�p ¢ U p z m m > a > �- a�aL' -' w w LL ❑-o zm'¢ w g w O z LL U¢ U W W O U LL N Cn 7 A) �' O O 0 D O 0 � F- U d � o TD m 2 ¢ U a) a) W (n F— U I-- cn LLU w H ¢ C) U p p as mU �� CL X > W J ¢ G C y J O¢ J W LL W W LL LL W W LL LL W J F- d m m Fw- Ur Ln cn - (1) U) J J ¢ z O E E w W UUa i L -L-L -E F ¢ n I < U)iU)j I a 1 10-1 U a7 L O U v N 0 O O m Q. Lo O O N City of Ithaca Premium Equivalent Health Insurance Rates All rates 1990 -2015 Health Insurance Rates without 3 -tier RX: Annua12015 $ 11,208.12 $ 24,292.92 $ 246.00 Annual 2014 $ 10,674.36 $ 23,136.12 $ 240.48 Annua12013 $ 9,883.56 $ 21,422.28 $ 240.48 Annual 2012 Annual 2011 Annual 2010 Annual 2009 $ 8,689.38 $ 19,926.64 $ 240.48 $ 7,935.51 $ 18,197.85 $ 236.88 $ 7,247.04 $ 16,619.04 $ 228.60 $ 7,022.88 $ 16,104.60 $ 222.72 Premuim equivalent: Annual 2_00.8_ $ 5,658.48 $ 12,977.16 $ 213.48 Year 2015 2014 Estimated Current rates Individual $ 934.01 $ 889.53 % increase Family % Increase $ 2,024.41 5.00% $ 1,928.01 8.00% Dental $ 20.50 $ 20.04 % Increase 5.00% 8.00% 2% 0% 2013 $ 823.63 13.74% $ 1,785.19 7.51% $ 20.04 0 % 2012 $ 724.12 9.50% $ 1,660.55 9.50% $ 20.04 2% 2011 $ 661.29 9.50% $ 1,516.49 9.50% $ 19.74 4% 2010 $ 603.92 3.19% $ 1,384.92 3.19% $ 19.05 3 % 2009 $ 585.24 24.11% $ 1,342.05 24.10% $ 18.56 4% 2008 $ 471.54 7.20% $ 1,081.43 7.20% $ 17.79 -4% 2007 $ 439.88 -3% $ 1,008.83 -3% $ 18.49 24 %° 2006 $ 453.36 9% $ 1,038.13 9% $ 14.90 0% 2005 $ 415.93 8 % $ 952.41 8% $ 14.90 23% 2004 $ 386.55 14% $ 885.14 14% $ 12.08 -7% 2003 $ 337.60 22% $ 773.05 22% $ 12.96 3% 2002 $ 276.72 20% $ 633.65 20% $ 12.58 0% 2001 $ 230.60 10% $ 528.04 10% $ 12.58 0% 2000 $ 209.64 5% $ 480.03 5% $ 12.58 2% 1999 $ 199.66 5% $ 457.18 5% $ 12.28 7% 1998 $ 190.15 6% $ 435.41 5% $ 11.44 4% 1997 $ 180.10 5% $ 413.29 5% $ 10.96 0% 1996 $ 172.09 3% $ 394.44 3% $ 10.96 5% 1995 $ 166.60 0% $ 381.84 0% $ 10.40 0% 1994 $ 166.56 -3% $ 381.76 -3% $ 10.40 0% 1993 $ 172.07 3% $ 394.38 3% $ 10.40 -8% 1992 $ 166.57 104% $ 381.78 104% $ 11.30 3% 1991 $ 81.68 5% $ 186.92 5% $ 10.96 0 % 1990 $ 77.86 1 1 $ 178.19 1 1 $ 10.96 Page 17 O 2 co U (O c0 C c N O O E N U Q N w 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 C N rn N N m M O a m m w a) M V M 0 M cD (D m d1 O S (O V co M v t` co W cD W n � � r": o m rn m @@ E O O N O O N O N (D M O O M O (D N U N � N N Q N C � o U C N M lf3 N co 0) O O m O CD In O co co c0 CO O ti O n N@ O r h W M V r O M r O V (D N O O V M c0 M N N a 0 tO In N r O r (o O r- O N O r- un O LO O 1` m M M M @ rn N m M w V (D M O (D N N N V O 0) W �--_ m (D m r O (fl N O O O N (A m (D (D O V L N O O (n m N M co N 0) Ifl M O c0 co co c0 c0 N N V c0 O N N In N N N V N N M M Q) N N V N V V O c0 W t� O (D (D m (n f- V to V h M (n (V T m 1yXC N F C C � E9 E9 69 E9 E9 EA E9 E9 ffl EA Vj EA E9 E9 E9 V3 E9 EA U3 ER U9 4:i fA 1A Na) O O O O O O O O O O O O O O O O O O O O O O O O > O O O O O O O O O O O O O O O O O O O O O O O O @ N m c0 co o7 V m LL) I, U') C, O r- � m O M In w ti c0 m (V v U> O M co O N � O M 00 In 1 c O h t` (O co c0 N c (D 0) m M W O O M M O Q) r W co c (O (D w IO cD C C@ ,0 m c0 co V I` W O N M O O m V w N O m V N V N N N 00 N co O co O CD (O W O P, 7 O co f- M O co O ID co Of M M c N 0) n M V ILi 111 O O) In el NN M c- tD O N N Q1 r IO N N O CD r V O e- M (O N N N 0) U N Q r N @ C � — E9 E9 69 E9 E9 V� E9 E9 Vi Vi Vi E9 E9 E9 E9 E9 Vi E9 E9 V3 6:i E9 69 69 @ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 N J O 0) N M h O N O W O 0) r O N M O (fl W O N O O W N O c0 O V M (O N n M m V O O) r 00 X= M co O M O (D O n M (D V M V CO M N N M U H O N h W) M_ O O (9 O M W N r V N N ti V N r O m N I!) a) O O ,� M N (D M If) CO (D O V M c0 .-- M O) r N r O m cD IO M 0) c0 V h 0) (D r h N- LO v C (D 0) W tfJ V cD O O N V N_ LO m i,- n V r V � V (fl M IO N r 1` � O W c0 M 0) N IO to r N N r 11 O W O r N a) M N � r O M N V M m O M O O N W CO V h O V N' r- O Oi N 00 O (O M (O N N V N V N N c0 V c0 co V (D m N O (D r (O O I, cl co h M 1` V 1` (n r O h 1+ (` N c0 O 00 r O_ t` In M_ (c) O (D c (D V f•. N W c0 W (n O N IO M N ~ _O N 61). 69 69 69 69 64 69 W. 69 69 69 6H Ga E9 69 69 V3 69 69 69 vi 69 69 (A w O O O O O O O O O' O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O W W O (D M W (D (O IO IO N 0) N N LO CO d1 (D V CO In 0) Un (D I(J co M O cD r c0 h O 00 V co co V In c0 O V W O O0 O V 0) do M N W V O O O N (O 00 pl d' N M N O to V V N N Q1 00 V V O In M M r- N In O N In M ( N c- O c0 IO 0) N V c c0 c1 V m V O N r- 0) V n W 0) (fl c0 �- LO c c0 0) 00 c0 N 0) N O h M M In M � O M @ O O M V N (fl W O In O M M CO O N N 0) O N N W ZS O @ . W 00 � co V M 00 M c0 V 00 (D 0) N O V c0 m N V W V In M lO cD (D @ > c0 N 00 c0 00 00 00 co co co h r X @ N N Q E9 69 E9 E9 69 69 V3 E9 Efl E9 E9 b9 69 69 E9 E9 EA E9 Ef> E9 H9 69 69 69 69 O o O o o O O o O. o o n o 0 0 0 0 0 o a o 0 0 o y o @ O O O O O N O N O O O CO c0 r c0 O M O In O 7 N N O O 0) O ^ O O O M O O O O M O O M O M O O O O N@ V Q1 m O (D M (0 (D V O O V V W O N� N N O �N- N M O 0) O r c0 N cD 1` 0) r 0) P- M O O 0) co N O M O O c0 O N O N M M M V N N N N M M X r F- 69 (» (a (» 49 69 W. (» (» 69 69 vi @ w 0 N M <r n m n co m 0 o N M m cD C', o N m sr h m rn m rn rn rn m rn m rn '0 rn rn rn rn rn rn O O o o 0 1c:34 0 0 C) o 0 O C) 0 o 0 O 0 o 0 o o e O o 0 0 o y o �- N N N N N N N N N N N N N N Z N 10 0 0 0 o a o 0 0 0 0 0 0 0 o a o 0 0 0 0 0 o C o NO O O O O M (O N M CD I- N M IO IO M E IO m cc @@ n O N P- I-- M M O M O (� N V V M In V CD O O "I V N W V M IO O O N O 0) O 00 N O O O O O O LO (D m V In (D M N (D M O V co IO N W c0 M IO (D 0) LO r M co O M_ M U IO M O V CO M M N M V CO 03 M O N M M O N N O a N C F o C City of Ithaca Fund Balance /Debt Service Activity G/F As of 9/30/14 File:Budaetreserves Page 19 Appropriated F/B Appropriated (negative) General Fund % of Oper. Total Fund % of Oper. Unassigned Per Fund Balance Results of Year Ending Expenses Balance Expenses Fund Balance 994M Used _Operations G/F Fund Balance 12/31/1997 17.61% $ 4,714,769 7.85% $ 2,102,130 $ 355,978 $ 104,171 $ (62,177) G/F Fund Balance 12/31/1998 19.65% $ 5,402,809 9.38% $ 2,580,631 $ 536,623 $ - $ 686,477 G/F Fund Balance 12/31/1999 18.18% $ 5,234,990 7.32% $ 2,108,722 $ 503,593 $ 471,909 $ 168,985) G/F Fund Balance 12/31/2000 14.60% $ 4,286,718 4.33% $ 1,270,059 $ 704,892 $ 704,892 $ (772,995) G/F Fund Balance 12/31/2001 11.02 % $ 3,475,268 3.24% $ 1,021,640 $ 698,453 $ 698,453 $ 812,379) G/F Fund Balance 12/31/2002 9.30% $ 3,003,475 3.97% $ 1,280,556 $ 441,650 $ 441,650 $ 473,485) G/F Fund Balance 12/31/2003 9.45% $ 3,119,162 4.21% $ 1,389,199 $ - $ - $ 115,688 G/F Fund Balance 12/31/2004 13.10% $ 4,714,791 5.45% $ 1,961,412 $ $ - $ 141,553 G/F Fund Balance 12/31/2005 14.66% $ 5,544,827 7.20% $ 2,724,565 $ $ - $ 878,323 G/F Fund Balance 12/31/2006 17.78% $ 7,056,253 9.94% $ 3,943,892 $ - $ $ 1,635,945 G/F Fund Balance 12/31/2007 20.04% $ 8,570,979 10.77% $ 4,605,227 $ - $ - $ 1,464,109 G/F Fund Balance 12/31/2008 20.24% $ 9,303,425 11.82% $ 5,433,751 $ 496,435 $ - $ 721,437 G/F Fund Balance 12/31/2009 18.78% $ 8,805,714 8.34% $ 3,909,513 $ 492,045 $ 306,633 $ 467,661) G/F Fund Balance 12/31/2010 18.36% $ 8,765,117 7.87% $ 3,758,180 $ 950,000 $ 71,164 $ 71,164) G/F Fund Balance 12/31/2011 16.77% $ 8,352,701 6.20% $ 3,087,878 $ 792,000 $ 492,276 $ (492,276) G/F Fund Balance 12/31/2012 16.76% $ 8,416,779 7.79% $ 3,914,894 $ 995,000 $ 216,310 $ (216,310) G/F Fund Balance 12/31/2013 14.34% $ 7,334,989 7.58% $ 3,875,825 $ 299,632 $ 283,363 $ 283,363 9/30/2014 2014 revs $ 37,896,339 exp $ 37,439,240 $ 457,099 2013 revs $ 50,857,632 exp $ 51,140,995 $ (283,363) 2012 revs $ 50,007,884 exp $ 50,224,194 $ (216,310) 2011 revs $ 49,325,520 exp $ 49,817,796 $ (492,276) 2010 revs $ 47,681,315 exp $ 47,752,479 $ (71,164) 2009 revs $ 46,432,927 exp $ 46,900,588 $ (467,661) 2008 revs $ 46,683,032 exp $ 45,961,595 $ 721,437 2007 revs $ 44,238,918 exp $ 42,774,809 $ 1,464,109 Page 19 City of Ithaca Summary of Water and Sewer Rates 1989 -2015 Page 20 Per 100 cu ft Per 100 cu ft _ Year Water Rates % Change Sewer Rates %o Change 1989 $ 0.90 $ 0.90 1990 $ 1.00 11% $ 1.16 29% 1991 $ 1.16 16% $ 1.25 8% 1992 $ 1.21 4% $ 1.40 12% 1993 $ 1.21 0% $ 1.40 0% 1994 $ 1.27 5% $ 1.47 5% 1995 $ 1.40 10% $ 1.62 10% 1996 $ 1.54 10% $ 1.70 5% 1997 $ 1.69 10% $ 1.70 0% 1998 $ 1.83 8% $ 1.70 0% 1999 $ 2.01 10% $ 1.70 0% 2000 $ 2.21 10% $ 1.87 10% 2001 $ 2.32 5% $ 1.96 5% 2002 $ 2.46 6% $ 2.16 10% 2003 $ 2.53 3% $ 2.38 10% 2004 $ 2.53 0% $ 2.62 10% 2005 $ 2.68 6% $ 2.80 7% 2006 $ 2.76 3% $ 3.08 10% 2007 $ 2.82 2% $ 3.39 10% 2008 $ 2.91 3% $ 3.73 10% 2009 $ 3.02 4% $ 4.10 10% 2010 $ 3.32 10 % $ 4.43 8% 2011 $ 3.75 13% $ 4.87 10% 2012 $ 4.50 20% $ 5.06 4 % 2013 $ 4.73 5% $ 5.47 8% 2014 $ 5.11 $ 5.62 8% $ 5.47 $ 5.47 0% 0% 2015 Proposed 10% Proposed average 1 7%1 1 77/6 Page 20 City of Ithaca Debt Limit Schedule December 31, 2014 All Issued and Authorized 2015 Projects and Expected 2015 debt Payments Page 21 Assessed Value Full Value Of Taxable For Year Line Of Taxable State Equalization Ended No. Real Estate Rate Real Estate 12/31/2010 4 $1,492,021,006 100.00 $1,492,021,006 12/31/2011 5 $1,512,975,624 100.00 $1,512,975,624 12/31 /2012 5 $1,536,243,783 100.00 $1,536,243,783 12/31/2013 5 $1,564,032,345 100.00 $1,564,032,345 12/31/2014 5 $1,660,375,229 100.00 $1,660,375,229 Total of Lines 1 thru 5 6 $7,765,647,987 Average Full Tax Valuation 7 $1,553,129,597 Debt Limit 7% of Line 7 $108,719,072 NET INDEBTEDNESS SUBJECT TO DEBT LIMIT INCLUSIONS Bonds Outstanding 12/31/14 $65,667,160 2015 authorizations in Budget $3,992,460 Bond Anticipation Notes Outstanding 12/31/14 $57,932,060 Total $127,591,680 EXCLUSIONS Sewer Bonds $4,530,787 Revenue Anticipation Notes $0 Cash on Hand for debt payoff bridges $0 Reimbursement for Debt $352,167 Housing and Urban Renewal debt $780,000 Appropriations G/F payoff $4,595,974 Water Bonds $34,051,939 Total $44,310,867 Net Indebtedness Subject to Debt Limit $83280.813 Debt limit $108,719,072 Less: Indebtedness Subject to Debt Limit $83,280,813 Debt Contracting Power Available 525.438.259 Percentage of Debt Contracting Power Available 23% Percentage of Debt Contracting Power Exhausted 77% Page 21 City of Ithaca Constitutional Tax Margin Schedule December 31, 2014 Page 22 ASSESSED VALUE OF TAXABLE REAL ESTATE STATE FULL VALUE FOR YEAR LINE EQUALIZATION OF TAXABLE ENDED NO. RATE REAL ESTATE 12/31/2009 1 $1,480,922,619 100 $1,480,922,619 12/31/2010 2 $1,492,021,006 100 $1,492,021,006 12/31/2011 3 $1,512,975,624 100 $1,512,975,624 12/31/2012 4 $1,536,246,783 100 $1,536,246,783 12/31/2013 5 $1,564,032,345 100 $1,564,032,345 TOTAL OF LINES 1 THRU 5 6 $7,586,198,377 AVERAGE FULL TAX VALUATION 7 $1,517,239,675 TAX LIMIT 2% OF LINE 7 $30,344,794 TAX LEVY - 2014 $20.520,104 EXCLUSIONS $ 6,852,852 Tax Levy Subject To tax Limit $13,667,252 CONSTITUTIONAL TAX MARGIN 1ILQZ7 .542 PERCENTAGE OF TAXING POWER AVAILABLE 55% PERCENTAGE OF TAX POWER EXHAUSTED 45% 80 % -90% Exhausted Caution Zone Over 90% Exhausted Danger Zone Page 22 N U v E o E O LL E . . . . . . . . . . . . ...... . . . . . . 7 c fL' > @ @ U Z EO O M _T j O) CU m LT m Lo N N 0 'V N N a N C N E m - > O ow m c > aa> 7 r Q _ 6 w > ` E a I E (D CL E o 0 N E c a C U O a) C O C @ N �' .O C W N w _ N p@ E O' w .> Z_ N N �C '@O O 2 Co -NO c 'o v 0 ca @ L7 d y ca O�y� Q@ LO c a) 0 @ 0 2 o `) c a m `o. `m y 3 o N c m s E N— a '> O� , C co � C @ O O @ m N '� C 3 N ,b a�E0a N N E Cl C Y N U E0o@ ..N. 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N QJ W N 0) N iO Q O O M M In c W o M M CO m N 0 Q QQ¢ Q Q QQQQQQQ 1 -OQI -O N m a City of Ithaca Summary of Revenue 2015 file:budgetreserves 9/30/14 Revenues: Projected % of Totat Revenues Budget 20 5 Tax Items 41.36% 39.91% 0.00% Property Tax $ 21,319,218 Collegetown Assessment $ - In Lieu Payments $ 540,000 1.01% Int &Penalty on tax $ 238,000 0.45% Non - Property Tax 26.02% 25.13% 0.52% Sales Tax $ 13,425,000 Utility Receipts Tax $ 280,000 Franchises $ 195,000 0.37% Departmental Income 0.20% Chamberlain Fees $ 81,000 0.15% Clerk. Fees $ 25,000 0.05% Public Safety 0.67 % Safety Inspection Fees $ 170,000 0.32% Electricallnspections /permits $ 129,000 0.24% Fire Code Inspection fees $ 59,000 0,11% Transportation 4.73% Public Works Services $ 85,000 0.16% Parking Lots and Garages $ 1,361,000 2.55% Parking Meters $ 1,080,000 2.02% Recreation 2.49% Parks and Recreation charges $ 512,457 0.96% Recreation Concession $ 70,000 0.13% Golf Course charges /fees $ 191,000 0.36% Pool Charges $ 70,000 0.13% Skating Charges $ 193,500 0.36% Contribution to Youth $ 294,418 0.55% mental charges Home and Comm Services $ 0.14 % Site Development Fees $ 75,000 0.14% Intergovern 7.28% 0.12% 0.00 % 5.87% 0.23% Town Fire Protection $ 3,135,000 Public Works Services $ 124,183 Youth Services $ 567,696 1.06% Services other governments $ - 0.00% City of Ithaca Page 27 mental charges Civil Service charges $ 64,000 Transit Reimbursement. $ - City of Ithaca Page 27 City of Ithaca Summary of Revenue 2015 file:budgetreserves 9/30/14 Revenues. Projected Budget % of 20151 Total Revenues Use of Money 0.70% Interest 1 $ 75,000 0.14% Rental of Property $ 250,000 0.47% Golf Cart Rental $ 50,000 0.09% Licenses & Permits 1.41 % Building Permits $ 700,000 1.31% Other Permits $ 55,000 0.10% Fines 2.21% Fines $ 1,180,000 2.21 % Sales of Property 0.97% Sale of Property $ 400,000 0.75% Sale of Equipment $ 20,000 0.04% Insurance Recoveries $ 100,000 0.19% Miscellaneous 2.45% 2.45 % Gifts and Donations $ 1,310,629 InterFund 2.72% Water $ 299,880 0.56% Sewer $ 353,000 0.66% Capital $ 206,000 0.39% Joint Activity $ 241,153 0.45% Debt Service $ 352,167 0.66% Stormwater $ 74,884 0.14% State Aid 6.09% 4.89% 0.73% Per Capital $ 2,610,398 Mortgage Tax $ 390,000 Court Facilities $ 82,000 0.15% Court Security $ - 0.00% CHIPS 1 $ - 0.00% Youth Programs $ 170,110 0.32% Other $ - 0.00% Federal Aid 0.15% Public Safety Crime $ 15,000 0.03% Public Safety Drug $ - 0.00 % Youth 1 $ - 0.00 % Community & Home $ 66,600 0.12 % 0.26 % Other $ 136,260 $ 53,422,553 100% Totals City of Ithaca Page 28 City of Ithaca Summary of Assessment Data 2014 Page 29 2015 Commercial /Other Residential Taxable Assessment $ 1,660,375,229 $ 946,132,986 $ 714,242,243 % of Total 100.00% 56.98% 43.02% 2014 Commercial /Other Residential Taxable Assessment $ 1,563,667,095 $ 901,047,192 $ 662,619,903 % of Total 100.00% 57.62% 42.38% 2013 Commercial /Other Residential Taxable Assessment $ 1,536,243,783 $ 877,695,025 $ 658,548,758 % of Total 100.00% 57.13% 42.87% 2012 Commercial /Other Residential Taxable Assessment $ 1,512,975,624 $ 860,709,888 $ 652,265,736 % of Total 100.00% 56.89% 43.11% 2011 Commercial /Other Residential Taxable Assessment $ 1,492,021,006 $ 838,796,185 $ 653,224,821 % of Total 100.00% 56.22% 43.78% 2010 Commercial /Other Residential Taxable Assessment $ 1,480,572,619 $ 830,807,643 $ 649,764,976 % of Total 100.00% 56.11% 43.89% 2009 Commercial /Other Residential Taxable Assessment $ 1,429,895,241 $ 805,625,753 $ 624,269,488 % of Total 100.00% 56.34% 43.66% 2008 Commercial /Other Residential Taxable Assessment $ 1,193,016,926 $ 684,895,033 $ 508,121,893 % of Total 100.00% 57.41% 42.59% Amount % Change of assessment 2015 to 2014 $ 96,708,134 related to new property 35,782,010 37% related to market change $ 60,926,124 63% Change of assessment 2014 to 2013 $ 27,423,312 related to new property 20,293,251 74 % related to market change $ 7,130,061 26% Amount % Change of assessment 2013 to 2012 $ 23,268,159 related to new property 20,010,617 86% related to market change $ 3,257,542 14% Amount % Tax Exempt City property 2015 $ 2,470,872,000 Cornell University Exempt city property 2014 $ 2,063,788,500 84% If Cornell paying city tax 2015 26,499,044 Cornell University Contribution to city 2015 $ 1,290,629 estimated 4.87% of tax amount increase Commercial /Other Residential Tax revenue generated by assessments increase 2015 $ 1,264,019 6.16% Tax revenue generated by tax rate increase 2015 $ (464,905) - 2.13% Total new revenue generated by tax and assessments $ 799,114 1 $ 455,360 $ 343,754 Page 29 L Q 0 W �U U Q M O X A O W 0) X O Uicr O L cu E 7 CO CD O N O O O o ti (D 00 N N O o [1- r co r 0 M N O O c N 0O O N ti M CD O LLB 0) Lf) O lr� (D d� O r [� OD C O c D> I r M d I- N M O m d' r r M N d' N 64 Ef? Cf3 U) 69 {f} Efl 69 �I CO co cO0 \° LO NI O U') \° co N NI c0 O m NI O M CO O M Lm M O CO CAD 00 M t rl COD co lt N N � C co <- r co N co N 64 64 Cf} 64 69 U31 64 Cf} mI C* cm N NI dO N NI � LOO co NI i i I- C6 0 O O M r I- co O Cb Cfl O N Cfl O O Ln N LO N O cn r It r r L{) r co r N N r Cli co O M N Q 69 69 69 f-4 64 64 Or COO N NI N o 0 0 cq NI (D 0 CN NI i CD LLn M C° t` LO M LL~ f) CO O O ~ M ti LO CM O^ r O O O r co O N M � co Cl N r co N co N Cfy 64 ffl 69 64 64 U4 61> m M O O co o m NI N` (0 O LOLO o LO OO NI O O O o co I I i O co r N CO L(7 O O O r l- O O O r O I~ O C N Cfl O d 1%- r N O CD r co rl- ti co r M N r M N M N 61) 69 69 64 A CO CD O) Cfl N I Cfl r O O LO O I Lo O O O D o ti 0 LO N I CD 00 CO O O O o O N LO tin co d' O r O ;zf Lo co N O 00 LO V) r N ti m ti CO 00 ti LLB Lf� CD O Lr� Lr7 N i~ 00 C C d' DOS ti t(D Cl r O O Lr) M r cJ N r N N M N N 6S 69- U3- 64 64 64 69 CD O O LO O O O M o co M O CO r �- O O ti o 00 00 O NI CO' [F N O O r- o O co r NI N O 00 O O O o CD d. Cfl N to N co 00 r— N d Ln co 00 N O co � � m N I co M co O O r 00 O) It r N LC) - M LO O LN �Y N r r r co N It N Cfl Cf> 64 69 64 64 69 64 L X r6 L 110. O E U) N Q ++ I0 Q O Q Q E 0 �X LJ..1 X f� Q 0 Q E X x W o L >- X LL� 1 L LL tD E cn Cl) .,_. Q Q Q E (D W X Fes Q ryO LL Q E a) X W o L >- X L� L LL N E Cn U) En Q .... ]� Q. O Q Q E Cu LJ.J w X H Q AO I..L CL E � X W o >- X m � L Ll O E Cn U) cn � co f0- Q 0 ` Q E a) �X LJ..1 X - Q ^O LL a E Q� X W o O co N C) City of Ithaca Snapshot of Material Budget Items 2001 -2015 Page 31 Year G/F Amount % Change Pension Costs 2015 $ 4,351,384 - 6.20% budget 2014 $ 4,639,036 7.39% budget 2013 $ 4,319,691 8.35% 2012 $ 3,986,645 16.73 % 2011 $ 3,415,301 36.65% 2010 $ 2,499,293 33.87% 2009 $ 1,866,888 - 6.05 % 2008 $ 1,987,087 - 4.38% 2007 $ 2,078,120 9.00% 2006 $ 1,906,473 -4.89% 2005 $ 2,004,578 2.17% 2004 $ 1,962,076 165.25 % 2003 $ 739,696 376.45% 2002 $ 155,251 27.06% 2001 $ 122,191 % Change from 2001 to 2015 3461.13% Average annual % change 247.22% $ Change from 2001 to 2015 $ 4,229,193 Average $ change $ 302,085 Health Insurance Costs 2015 $ 9,022,300 3.74% budget 2014 $ 8,697,051 11.74% budget 2013 $ 7,782,953 5.95% 2012 $ 7,345,830 0.47% 2011 $ 7,311,363 18.47% 2010 $ 6,171,576 - 2.01% 2009 $ 6,298,399 12.36% 2008 $ 5,605,341 12.30% 2007 $ 4,991,535 10.34% 2006 $ 4,523,811 - 9.25% 2005 $ 4,984,784 10.14% 2004 $ 4,526,006 1.38% 2003 $ 4,464,606 19.62% 2002 $ 3,732,214 19.44% 2001 $ 3,124,784 % Change from 2001 to 2015 188.73% Average annual % change 13.48% $ Change from 2001 to 2015 $ 5,897,516 Average $ change $ 421,251 Debt Costs 2015 $ 6,812,283 5.32% budget 2014 $ 6,467,917 - 3.13% budget 2013 $ 6,676,655 4.49% 2012 $ 6,389,765 0.12% 2011 $ 6,382,236 -5.86% 2010 $ 6,779,779 10.34% includes lease P &I 2009 $ 6,144,409 2.70% 2008 $ 5,982,697 1.36% 2007 $ 5,902,508 - 0.34% 2006 $ 5,922,370 9.75% 20051 $ 5,396,158 9.73% 2004 $ 4,917,764 - 0.64% 2003 $ 4,949,335 8.01% 2002 $ 4,582,386 5.44 % 2001 $ 4,346,126 % Change from 2001 to 2015 56.74% Average annual % change 4.05% $ Change from 2001 to 2015 $ 2,466,157 Average $ change $ 205,513 Page 31 City of Ithaca Snapshot of Material Budget Items 2001 -2015 Page 32 % Change Year I G/F Amount Debt Outstanding Includes IURA /Not Installment 2015 $ 121,700,731 -1.54% Estimated 2014 $ 123,599,220 13.25% 2013 $ 109,141,796 27.84% Commons /IAWWTF 2012 $ 85,374,371 9.79% 2011 $ 77,759,587 7.38% 2010 $ 72,416,434 -1.62% 2009 $ 73,611,231 0.21% 2008 $ 73,459,136 1.91% 2007 $ 72,083,451 13.40% 2006 $ 63,565,167 3.71% 2005 $ 61,290,008 8.83% 2004 $ 56,315,856 0.51% 2003 $ 56,027,712 12.79% 2002 $ 49,674,512 16.23% 2001 $ 42,737,652 % Change from 2001 to 2015 184.76% Average annual % change 13.20% $ Change from 2001 to 2015 $ 78,963,079 Average $ change $ 5,640,220 Salary Costs Not including actual OT 2015 $ 22,831,886 2.21% budget 2014 $ 22,338,593 1.30% budget 2013 $ 22,052,906 -2.08% 2012 $ 22,521,461 2.61% 2011 $ 21,947,741 0.39% 2010 $ 21,862,821 1.80% 2009 $ 21,476,387 4.25% 2008 $ 20,601,025 6.82% 2007 $ 19,285,683 4.98% 2006 $ 18,371,495 5.01% 2005 $ 17,494,258 2.38% 2004 $ 17,088,000 1.79% 2003 $ 16,788,000 -1.70% 2002 $ 17,078,000 2.61% 2001 $ 16,644,320 % Change from 2001 to 2015 37.18% Average annual % change 2.66% $ Change from 2001 to 2015 $ 6,187,566 Average $ change $ 441,969 Workers Comp Insurance 2015 $ 734,634 -7.09% budget 2014 $ 790,658 -15.41% budget 2013 $ 934,681 28.59% 2012 $ 726,849 24.24% 2011 $ 585,046 44.87% 2010 $ 403,852 -9.03% 2009 $ 443,939 -15.01% 2008 $ 522,357 5.74% 2007 $ 493,980 15.53% 2006 $ 427,582 - 35.22% 2005 $ 660,018 27.79% 2004 $ 516,469 32.96% 2003 $ 388,440 - 52.62% 2002 $ 819,807 79.26% 2001 $ 457,320 % Change from 2001 to 2015 60.64% Average annual % change 4.33% $ Change from 2001 to 2015 $ 277,314 Average $ change $ 19,808 Page 32 City of Ithaca Snapshot of Material Budget Items 2001 -2015 Page 33 7-GIF Amount %Change Cayuga Garage FAA 2015 $ 1,011,000 5.31% 2014 $ 960,000 14.29% 2013 $ 840,000 0.00% 2012 $ 840,000 - 3.45% 2011 $ 870,000 - 27.07% 2010 $ 1,192,951 - 16.17 % 2009 $ 1,422,979 - 16.30% 2008 $ 1,700,000 -0.99% 2007 $ 1,716,939 51.27% 2006 $ 1,135,000 136.46% 2005 $ 480,000 100.00% 2004 $ - 2003 $ - 2002 $ - 2001 $ - % Change from 2005 to 2015 110.63% Average annual % change 10.06% $ Change from 2005 to 2015 $ 531,000 Average $ change $ 48,273 Property Tax Revenue all 2015 $ 21,319,218 3.89% 2014 $ 20,520,104 1.67% 2013 $ 20,182,407 3.16% 2012 $ 19,565,035 3.06% 2011 $ 18,984,427 4.14% 2010 $ 18,230,175 4.25% 2009 $ 17 „487,547 3.82% 2008 $ 16,844,011 4.73% 2007 $ 16,082,517 6.37% 2006 $ 15,118,807 11.89% 2005 $ 13,512,779 15.21% 2004 $ 11,729,128 15.89% 2003 $ 10,120,557 17.01% 2002 $ 8,649,645 5.21% 2001 $ 8,220,945 % Change from 2001 to 2015 159.33 % Average annual % change 11.38 % $ Change from 2001 to 2015 $ 13,098,273 Average $ change $ 935,591 Tax assessments commercial % of assessments 2015 $ 867,386,000 5.45% 52.24% 2014 $ 822,521,000 2.44% 52.59% 2013 $ 802,963,495 2.56% 52.26% 2012 $ 782,941,037 3.22% 51.75% 2011 $ 758,534,037 0.47% 50.84% 2010 $ 755,007,137 3.16% 50.99% 2009 $ 731,861,237 18.17 % 51.18% 2008 $ 619,331,375 0.82% 51.91% 2007 $ 614,263,930 4.62% 51.92% 2006 $ 587,155,255 10.46% 51.49% 2005 $ 531,541,461 9.18% 51.92% 2004 $ 486,838,600 6.97% 53.00% 2003 $ 455,135,700 2.41% 52.57% 2002 $ 444,416,200 2001 % Change from 2002 to 2015 95.17% Average annual % change 6.80% $ Change from 2002 to 2015 $ 422,969,800 Average $ change $ 30,212,129 Page 33 City of Ithaca Snapshot of Material Budget Items 2001 -2015 Page 34 Year G/F Amount % Change Taxable Assessments 2015 $ 1,660,375,229 6.16% 2014 $ 1,564,032,345 1.79% 2013 $ 1,536,536,783 1.56% 2012 $ 1,512,975,624 1.40% 2011 $ 1,492,021,006 0.77% 2010 $ 1,480,572,619 3.54% 2009 $ 1,429,895,241 19.86% 2008 $ 1,193,016,926 0.83% 2007 $ 1,183,184, 996 3.77% 2006 $ 1,140,225,492 11.38% 2005 $ 1,023,695,402 11.45% 2004 $ 918,490,809 6.09% 2003 $ 865,744,842 2.95% 2002 $ 840,974,015 0.68% 2001 $ 835,258,185 % Change from 2001 to 2015 98.79% Average annual % change 7.06% $ Change from 2001 to 2015 $ 825,117,044 Average $ change $ 58,936,932 Tax Rate 2015 $ 12.84 -2.13% 2014 $ 13.12 0.31% 2013 $ 13.08 1.16% 2012 $ 12.93 2.38% 2011 $ 12.63 2.60% 2010 $ 12.31 0.65% 2009 $ 12.23 - 13.39% 2008 $ 14.12 3.82% 2007 $ 13.60 2.56% 2006 $ 13.26 0.45% 2005 $ 13.20 3.37% 2004 $ 12.77 9.24% 2003 $ 11.69 13.61% 2002 $ 10.29 4.57% 2001 $ 9.84 % Change from 2001 to 2015 30.49 % Average annual % change 2.18% $ Change from 2001 to 2015 $ 3.00 Average $ change $ 0.21 Sales Tax revenue 2015 $ 13,425,000 2.30% budget 2014 $ 13,123,000 2.15% budget 2013 $ 12,846,512 2.10% 2012 $ 12,582,768 1.35% 2011 $ 12,414,740 4.07% 2010 $ 11,929,543 3.94% 2009 $ 11,476,920 - 5.63% 2008 $ 12,162,170 10.08% 2007 $ 11,048,064 8.73% 2006 $ 10,160,861 4.09% 2005 $ 9,761,642 16.09% 2004 $ 8,408,416 5.12% 2003 $ 7,998,704 - 0.29% 2002 $ 8,022,014 6.47 % 2001 $ 7,534,537 % Change from 2001 to 2015 78.18% Average annual % change 5.58% $ Change from 2001 to 2015 $ 5,890,463 �Avera e $ change $ 420,747 Page 34 City of Ithaca Snapshot of Material Budget Items 2001 -2015 Page 35 Year G/F Amount L/6-Change Cornell University Contribution 2015 $ 1,290,629 1.60% budget 2014 $ 1,270,304 1.50% 2013 $ 1,251,531 2.10% 2012 $ 1,225,789 3.20% 2011 $ 1,187,780 1.60% 2010 $ 1,169,075 -0.40% 2009 $ 1,173,770 3.80% 2008 $ 1,130,800 2.80% 2007 $ 1,100,000 - 4.35% 2006 $ 1,150,000 - 4.17% 2005 $ 1,200,000 - 4.00% 2004 $ 1,250,000 78.57% 2003 $ 700,000 7.69% 2002 $ 650,000 8.33% 2001 $ 600,000 % Change from 2001 to 2015 115.10% Average annual % change 8.22% $ Change from 2001 to 2015 $ 690,629 Average $change $ 49,331 % Cornell Contribution to G/F Expense 2015 2.40% - 0.09% budget 2014 2.40% -1.92% budget 2013 2.45% 0.27% 2012 2.44% 0.31% 2011 2.43% - 0.62% 2010 2.45% - 2.43% 2009 2.51% 1.99% 2008 2.46 % - 4.33% 2007 2.57% - 11.29% 2006 2.90% - 8.63% 2005 3.17% - 8.69% 2004 3.47% 63.88% 2003 2.12% 5.32% 2002 2.01% 5.78% 2001 1.90% % Change from 2001 to 2015 26.02% Average annual % change 1.86% $ Change from 2001 to 2015 N/A Average $ change N/A General Fund Revenues Other than Property Tax 2015 $ 32,103,335 1.02% budget 2014 $ 31,780,348 3.60% budget 2013 $ 30,675,225 0.76% Actual 2012 $ 30,442,849 0.34% Actual 2011 $ 30,341,093 3.05% Actual 2010 $ 29,442,275 1.58% Actual 2009 $ 28,985,380 - 2.66% Actual 2008 $ 29,776,475 5.75% Actual 2007 $ 28,156,401 7.50% Actual 2006 $ 26,192,588 3.98% Actual 2005 $ 25,190,488 3.27% Actual 2004 $ 24,392,154 6.25% Actual 2003 $ 22,956,825 0.04% Actual 2002 $ 22,947,618 2.91 % Actual 2001 $ 22,299,246 % Change from 2001 to 2015 43.970/. Average annual % change 3.14% $ Change from 2001 to 2015 $ 9,804,089 $ 700,292 Average $ change Page 35 City of Ithaca Snapshot of Material Budget Items 2001 -2015 Page 36 Year G/F Amount % Change General Fund Expenses 2015 $ 53,818,749 1.69% budget 2014 $ 52,922,474 3.49% budget 2013 $ 51,139,661 1.82% Actual 2012 $ 50,224,194 2.88% Actual 2011 $ 48,817,796 2.23% Actual 2010 $ 47,752,479 2.08% Actual 2009 $ 46,777,293 1.77% Actual 2008 $ 45,961,595 7.45% Actual 2007 $ 42,774,808 7.83% Actual 2006 $ 39,669,589 4.88% Actual 2005 $ 37,823,981 5.13% Actual 2004 $ 35,977,571 8.96% Actual 2003 $ 33,018,095 2,25% Actual 2002 $ 32,290,245 2.41 % Actual 2001 $ 31,530,506 % Change from 2001 to 2015 70.69% Average annual %° change 5.05% $ Change from 2001 to 2015 $ 22,288,243 Average $ change $ 1,592,017 Page 36 City of Ithaca Summary of State Aid PerCapita Received /Proposed 1989 -2015 _ If applied an Actual % increase/ $ annual CPI % Year Amount decrease Value increase 1988 $ 2,425,339 1989 $ 2,425,338 0.00% $ (1) 2,498,099 1990 $ 2,263,783 -6.66% $ (161,555) 2,573,042 1991 $ 1,481,149 - 34,57% $ (782,634) 2,650,233 1992 $ 1,339,404 -9.57% $ (141,745) 2,729,740 1993 $ 1,353,320 1.04% $ 13,916 2,811,633 1994 $ 1,456,172 7.60% $ 102,852 2,895,982 1995 $ 1,456,172 0.00% $ - 2,982,861 1996 $ 2,749,867 88.84% $ 1,293,695 3,072,347 1997 $ 1,513,983 - 44.94% $(1,235,884) 3,164,517 1998 $ 1,513,983 0.00% $ - 3,259,453 1999 $ 1,513,983 0.00% $ - 3,357,236 2000 $ 1,589,682 5.00% $ 75,699 3,457,953 2001 $ 1,677,182 5.50% $ 87,500 3,561,692 2002 $ 1,589,682 -5.22% $ (87,500) 3,668,543 2003 $ 1,589,682 0.00% $ - 3,752,919 2004 $ 1,589,682 0.00% $ - 3,880,519 2005 $ 1,905,116 19.84% $ 315,434 4,012,456 2006 $ 2,364,464 24.11% $ 459,348 4,156,905 2007 $ 2,589,088 9.50% $ 224,624 4,264,984 2008 $ 2,871,436 10.91% $ 2,835,051 -1.27% $ 2,663,671 -6.05% actual $ 2,610,398 -2.00% actual $ 2,610,398 0.00% actual $ 2,610,398 0.00% budgeted $ 2,610,398 0.00% budgeted $ 2,610,398 0.00% of state aid from 1989 -2015 $ 282,348 4,469,703 2009 $ (36,385) 4,469,703 2010 $ (171,380) 4,541,219 2011 $ (53,273) 4,686,538 2012 $ - 4,784,955 2013 $ - 4,856,729 2014 $ - 4,929,580 2015 $ - 5,003,524 Overall increase $ 185,059 Page 37 City of Ithaca Summary of Cornell University MOU Contribution 1995 -2015 Page 38 Allocation Municipal Annual Year Contribution Fire Other Economic Total % increase Chanoe 2015 1,290,629 $ 774,377 $ 516,252 $ - $1,290,629 1.60% preliminary $ 20,325 2014 1,270,304 $ 762,182 $ 508,122 $ - $1,270,304 1.50% $ 18,773 2013 1,251,531 $ 750,918 $ 500,612 $ - $1,251,531 2.10% est 1.5% $ 25,742 2012 1,225,789 $ 735,473 $ 490,316 $ - $1,225,789 3.20% $ 38,009 2011 2010 2009 1,187,780 1,169,075 1,173,770 $ 712,668 $ 701,445 $ 704,262 $ 475,112 $ 467,630 $ 469,508 $ - $ - $ - $1,187,780 $1,169,075 $1,173,770 1.60% - 0.40% 3.80% $ 18,705 $ (4,695) $ 42,970 2008 $ 1,130,800 $ 678,480 $ 452,320 $ - $1,130,800 2.80% $ 618,000 $ 60,480 $ 30,800 2007 $ 1,100,000 $ 660,000 $ 440,000 $ - $1,100,000 - 4.35% $ 600,000 $ 60,000 $ (50,000) 2006 $ 1,150,000 $ 575,000 $ 500,000 $ 75,000 $1,150,000 -4.17% $ (50,000) 2005 $ 1,200,000 $ 550,000 $ 500,000 $150,000 $1,200,000 - 4.00% $ (50,000) 2004 $ 1,250,000 $ 475,000 $ 525,000 $250,000 $1,250,000 78.57% $550,000 2003 $ 700,000 $ 450,000 $ 250,000 $ - $ 700,000 7.69% $ 50,000 2002 $ 650,000 $ 425,000 $ 225,000 $ - $ 650,000 8.33% $ 50,000 2001 $ 600,000 $ 400,000 $ 200,000 $ - $ 600,000 9.09% $ 50,000 2000 $ 550,000 $ 375,000 $ 175,000 $ - $ 550,000 22.22% $100,000 1999 $ 450,000 $ 325,000 $ 125,000 $ - $ 450,000 12.50% $ 50,000 1998 $ 400,000 $ 300,000 $ 100,000 $ - $ 400,000 14.29% $ 50,000 1997 $ 350,000 $ 275,000 $ 75,000 $ - $ 350,000 16.67% $ 50,000 1996 $ 300,000 $ 250,000 $ 50,000 $ - $ 300,000 20.00 % $ 50,000 1995 $ 250,000 $ 225,000 $ 25,000 $ - $ 250,000 $250,000 1994 $ - $ - $ - $ - $ - $ - actual decrease for 2010, CPI was negative Page 38