G-1, I-1 - Resolution 2025-051 - Budget Amendment FY 24-25

NOTICE OF PUBLIC HEARING - AMENDMENT OF CURRENT BUDGET City of TIFFIN Fiscal Year July 1, 2024 - June 30, 2025 The City of TIFFIN will conduct a public hearing for the purpose of amending the current budget for fiscal year ending June 30, 2025 Meeting Date/Time: 5/20/2025 07:00 PM Contact: Abigail Hora Phone: (319) 545-2572 Meeting Location: Tiffin City Hall, 300 Railroad St, Tiffin, Iowa There will be no increase in taxes. Any residents or taxpayers will be heard for or against the proposed amendment at the time and place specified above. A detailed statement of: additional receipts, cash balances on hand at the close of the preceding fiscal year, and proposed disbursements, both past and anticipated, will be available at the hearing. Budget amendments are subject to protest. If protest petition requirements are met, the State Appeal Board will hold a local hearing. For more information, consult https://dom.iowa.gov/local-gov-appeals. Total Budget Current Total Budget After REVENUES & OTHER FINANCING SOURCES as Certified Amendment Current Amendment or Last Amended Taxes Levied on Property 1 3,790,898 0 3,790,898 Less: Uncollected Delinquent Taxes - Levy Year 2 0 0 0 Net Current Property Tax 3 3,790,898 0 3,790,898 Delinquent Property Tax Revenue 4 0 0 0 TIF Revenues 5 2,180,390 0 2,180,390 Other City Taxes 6 693,287 0 693,287 Licenses & Permits 7 441,573 0 441,573 Use of Money & Property 8 148,796 0 148,796 Intergovernmental 9 750,559 0 750,559 Charges for Service 10 3,580,650 0 3,580,650 Special Assessments 11 0 0 0 Miscellaneous 12 32,700 0 32,700 Other Financing Sources 13 3,718,000 5,400,000 9,118,000 Transfers In 14 2,998,601 0 2,998,601 Total Revenues & Other Sources 15 18,335,454 5,400,000 23,735,454 EXPENDITURES & OTHER FINANCING USES Public Safety 16 1,489,863 810,000 2,299,863 Public Works 17 822,700 518,000 1,340,700 Health and Social Services 18 0 0 0 Culture and Recreation 19 674,497 75,360 749,857 Community and Economic Development 20 623,356 0 623,356 General Government 21 662,010 559,330 1,221,340 Debt Service 22 2,848,116 1,657,795 4,505,911 Capital Projects 23 4,453,000 0 4,453,000 Total Government Activities Expenditures 24 11,573,542 3,620,485 15,194,027 Business Type/Enterprise 25 3,937,230 622,634 4,559,864 Total Gov Activities & Business Expenditures 26 15,510,772 4,243,119 19,753,891 Transfers Out 27 2,998,601 0 2,998,601 Total Expenditures/Transfers Out 28 18,509,373 4,243,119 22,752,492 Excess Revenues & Other Sources Over 29 -173,919 1,156,881 982,962 (Under) Expenditures/Transfers Out Beginning Fund Balance July 1, 2024 30 8,888,382 0 8,888,382 Ending Fund Balance June 30, 2025 31 8,714,463 1,156,881 9,871,344 Explanation of Changes: Budget amendment to match our accounting software and transfer from local option sales tax to employee benefits. All expenses are covered by reserve funds. 05/07/2025 03:40 PM Page 1 of 1