G-1, I-1 - Resolution 2024-022 Annual Budget FY 2024-2025

City of: TIFFIN The City Council will conduct a public hearing on the proposed Budget at: Tiffin City Hall, 300 Railroad St Meeting Date: 4/16/2024 Meeting Time: 07:00 PM At the public hearing any resident or taxpayer may present objections to, or arguments in favor of, any part of the proposed budget. This notice represents a summary of the supporting detail of revenues and expenditures on file with the City Clerk and County Auditor. City budgets 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-budget-appeals. The Budget Estimate Summary of proposed receipts and expenditures is shown below. Copies of the the detailed proposed Budget may be obtained or viewed at the offices of the Mayor, City Clerk, and at the Library. <table> <tr> <th></th> <th>Budget FY 2025</th> <th>Re-estimated FY 2024</th> <th>Actual FY 2023</th> </tr> <tr> <td>The estimated Total tax levy rate per $1000 valuation on regular property</td> <td></td> <td></td> <td>11.80856</td> </tr> <tr> <td>The estimated tax levy rate per $1000 valuation on Agricultural land is</td> <td></td> <td></td> <td>3.00375</td> </tr> <tr> <td colspan="4">At the public hearing, any resident or taxpayer may present objections to, or arguments in favor of, any part of the proposed budget.</td> </tr> <tr> <td>Phone Number<br>(319) 545-2572</td> <td></td> <td></td> <td>City Clerk/Finance Officer's NAME<br>Abigail Hora</td> </tr> </table> <table> <tr> <th>Revenues & Other Financing Sources</th> <th>Budget FY 2025</th> <th>Re-estimated FY 2024</th> <th>Actual FY 2023</th> </tr> <tr> <td>Taxes Levied on Property</td> <td>3,790,898</td> <td>0</td> <td>3,033,773</td> </tr> <tr> <td>Less: Uncollected Property Taxes-Levy Year</td> <td>0</td> <td>0</td> <td>0</td> </tr> <tr> <td><b>Net Current Property Taxes</b></td> <td>3,790,898</td> <td>0</td> <td>3,033,773</td> </tr> <tr> <td>Delinquent Property Taxes</td> <td>0</td> <td>0</td> <td>0</td> </tr> <tr> <td>TIF Revenues</td> <td>2,180,390</td> <td>0</td> <td>1,653,892</td> </tr> <tr> <td>Other City Taxes</td> <td>693,287</td> <td>7,500</td> <td>7,960</td> </tr> <tr> <td>Licenses & Permits</td> <td>441,573</td> <td>414,469</td> <td>511,421</td> </tr> <tr> <td>Use of Money and Property</td> <td>148,796</td> <td>192,769</td> <td>396,327</td> </tr> <tr> <td>Intergovernmental</td> <td>750,559</td> <td>1,211,648</td> <td>740,021</td> </tr> <tr> <td>Charges for Fees & Service</td> <td>3,580,650</td> <td>3,036,829</td> <td>3,224,240</td> </tr> <tr> <td>Special Assessments</td> <td>0</td> <td>0</td> <td>0</td> </tr> <tr> <td>Miscellaneous</td> <td>32,700</td> <td>87,700</td> <td>268,255</td> </tr> <tr> <td>Other Financing Sources</td> <td>3,718,000</td> <td>6,950,000</td> <td>227,211</td> </tr> <tr> <td>Transfers In</td> <td>2,998,601</td> <td>2,913,968</td> <td>2,218,354</td> </tr> <tr> <td><b>Total Revenues and Other Sources</b></td> <td>18,335,454</td> <td>14,814,883</td> <td>12,281,454</td> </tr> <tr> <th>Expenditures & Other Financing Uses</th> <th></th> <th></th> <th></th> </tr> <tr> <td>Public Safety</td> <td>1,489,863</td> <td>1,031,278</td> <td>1,050,622</td> </tr> <tr> <td>Public Works</td> <td>822,700</td> <td>764,951</td> <td>574,221</td> </tr> <tr> <td>Health and Social Services</td> <td>0</td> <td>0</td> <td>0</td> </tr> <tr> <td>Culture and Recreation</td> <td>674,497</td> <td>545,739</td> <td>632,660</td> </tr> <tr> <td>Community and Economic Development</td> <td>623,356</td> <td>255,940</td> <td>121,360</td> </tr> <tr> <td>General Government</td> <td>662,010</td> <td>512,635</td> <td>687,733</td> </tr> <tr> <td>Debt Service</td> <td>2,848,116</td> <td>2,787,978</td> <td>2,166,349</td> </tr> <tr> <td>Capital Projects</td> <td>4,453,000</td> <td>1,680,000</td> <td>3,474,232</td> </tr> <tr> <td><b>Total Government Activities Expenditures</b></td> <td>11,573,542</td> <td>7,578,521</td> <td>8,707,177</td> </tr> <tr> <td>Business Type / Enterprises</td> <td>3,937,230</td> <td>4,029,499</td> <td>3,535,418</td> </tr> <tr> <td><b>Total ALL Expenditures</b></td> <td>15,510,772</td> <td>11,608,020</td> <td>12,242,595</td> </tr> <tr> <td>Transfers Out</td> <td>2,998,601</td> <td>2,913,968</td> <td>2,218,354</td> </tr> <tr> <td><b>Total ALL Expenditures/Transfers Out</b></td> <td>18,509,373</td> <td>14,521,988</td> <td>14,460,949</td> </tr> <tr> <td>Excess Revenues & Other Sources Over (Under) Expenditures/Transfers Out</td> <td>-173,919</td> <td>292,895</td> <td>-2,179,495</td> </tr> <tr> <td>Beginning Fund Balance July 1</td> <td>8,888,382</td> <td>8,595,487</td> <td>10,774,982</td> </tr> <tr> <td><b>Ending Fund Balance June 30</b></td> <td>8,714,463</td> <td>8,888,382</td> <td>8,595,487</td> </tr> </table>