M-8 - Notice of Public Hearing FY 21-22

3/11/2021 Local Government Property Valuation System NOTICE OF PUBLIC HEARING -- PROPOSED BUDGET Fiscal Year July 1, 2021 - June 30, 2022 The City of: TIFFIN The City Council will conduct a public hearing on the proposed budget as follows: Location: Tiffin City Hall, 300 Railroad Street Meeting Date: 3/30/2021 Meeting Time: 07:00 PM 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. The estimated Total tax levy rate per $1000 valuation on regular property 11.80926 The estimated tax levy rate per $1000 valuation on Agricultural land is 3.00375 At the public hearing, any resident or taxpayer may present objections to, or arguments in favor of, any part of the proposed budget. Phone Number City Clerk/Finance Officer's NAME (319) 545-2572 Abigail Hora Budget FY 2022 Re-estimated FY 2021 Actual FY 2020 Revenues & Other Financing Sources Taxes Levied on Property 1 2,527,787 2,240,983 2,005,716 Less: Uncollected Property Taxes-Levy Year 2 0 0 0 Net Current Property Taxes 3 2,527,787 2,240,983 2,005,716 Delinquent Property Taxes 4 0 0 0 TIF Revenues 5 1,610,206 1,443,875 1,140,388 Other City Taxes 6 62,063 0 0 Licenses & Permits 7 403,730 402,330 349,037 Use of Money and Property 8 64,800 52,400 48,059 Intergovernmental 9 296,487 981,908 1,485,262 Charges for Fees & Service 10 2,470,525 2,279,000 2,063,435 Special Assessments 11 0 0 0 Miscellaneous 12 43,100 80,100 18,927 Other Financing Sources 13 250,000 6,080,000 5,154,848 Transfers In 14 3,526,646 3,733,416 2,208,902 Total Revenues and Other Sources 15 11,255,344 17,294,012 14,474,574 Expenditures & Other Financing Uses Public Safety 16 890,961 578,093 527,534 Public Works 17 614,044 424,412 465,579 Health and Social Services 18 0 0 0 Culture and Recreation 19 423,112 401,444 243,149 Community and Economic Development 20 94,845 81,411 180,413 General Government 21 521,075 599,517 532,260 Debt Service 22 1,615,545 1,485,025 1,461,701 Capital Projects 23 2,063,000 1,989,532 6,952,084 Total Government Activities Expenditures 24 6,222,582 5,559,434 10,362,720 Business Type / Enterprises 25 1,358,685 1,304,205 3,138,027 Total ALL Expenditures 26 7,581,267 6,863,639 13,500,747 Transfers Out 27 3,526,646 3,733,416 2,208,902 Total ALL Expenditures/Transfers Out 28 11,107,913 10,597,055 15,709,649 Excess Revenues & Other Sources Over (Under) Expenditures/Transfers Out 29 147,431 6,696,957 -1,235,075 Beginning Fund Balance July 1 30 11,137,676 4,440,719 5,675,794 Ending Fund Balance June 30 31 11,285,107 11,137,676 4,440,719 https://dom-localgov.iowa.gov/budget-renderer?id=7177 1/1