2018 revenue forecast - cob home · sales tax property tax b&o tax utility tax goods &...
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1
October 23, 2017
2018 Revenue Forecast
2
Outline
• Overview
• General Fund
• Property Tax Levy
• Other Funds
• Budget Schedule
3
2017-2018 Citywide Budgeted
Revenue - $527.5 Million
Other
Funds:
$372.1
General
Fund:
$155.4
4
$0
$10
$20
$30
$40
$50
$60
$70
$80
20122.4%
20134.5%
20143.2%
20154%
20163.5%
2017P2%
2018P2.4%
Sales Tax Property Tax B&O Tax
Utility Tax Goods & Services Other
2018 General Fund Projection – $78.6 Million
Year
% Change
5
2018 B&O Tax Projection - $16 Million
$0
$2
$4
$6
$8
$10
$12
$14
$16
20125.4%
20133.4%
20140.8%
201517%*
20165.6%
2017P2.5%
2018P3.3%
11.7 12.112.2
14.3 15.1 11.3
4.2
16.0
Received Projected *Health care providers
Year
% Change
6
2018 Utility Taxes - Combined $16.9 Million
$0
$2
$4
$6
$8
$10
$12
$14
$16
$18
20122.2%
20134.3%
20143.4%
20150.8%
20163.8%
2017P3%
2018P3%
14.1 14.7 15.2 15.3 15.9 12.7
5.9
16.9
Received Projected
Year
% Change
7
2018 Utility Taxes - $16.9 Million
Water $4.7 28%
Sewer $2.9 17%
Storm$1.0 7%
Elect $3.7 22%
Gas $1.27%
Tele $1.9 11%
Cable $1.4 8%
8
2018 Sales Tax Citywide - $23.7 Million
$0
$5
$10
$15
$20
$25
20124.5%
20136.5%
20141.5%
20154%
20165.3%
2017P4.5%
2018P3%
18.6 19.820.1 20.9 22.0
17.2
5.8
23.7
Received Projected
Year
% Change
9
Sales Tax By Industry – Top 8
- 500 1,000 1,500 2,000
Gen. Merch
Vehicles & Parts
Construction
Food & Drink Places
Building Mat.
Specialty Trade
Wholesale
Clothing
2016 2017 Thousands
10
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%20
05
Q1
20
05
Q2
20
05
Q3
20
05
Q4
20
06
Q1
20
06
Q2
20
06
Q3
20
06
Q4
20
07
Q1
20
07
Q2
20
07
Q3
20
07
Q4
20
08
Q1
20
08
Q2
20
08
Q3
20
08
Q4
20
09
Q1
20
09
Q2
20
09
Q3
20
09
Q4
20
10
Q1
20
10
Q2
20
10
Q3
20
10
Q4
20
11
Q1
20
11
Q2
20
11
Q3
20
11
Q4
20
12
Q1
20
12
Q2
20
12
Q3
20
12
Q4
20
13
Q1
20
13
Q2
20
13
Q3
20
13
Q4
20
14
Q1
20
14
Q2
20
14
Q3
20
14
Q4
20
15
Q1
20
15
Q2
20
15
Q3
20
15
Q4
20
16
Q1
20
16
Q2
20
16
Q3
20
16
Q4
20
17
Q1
Construction as a Percent of Total Retail Sales
Construction Share of Retail Sales (Rolling Average)
11
2018 Property Tax Citywide - $25 Million
$0
$5
$10
$15
$20
$25
20121.6%
*201317.4%
20141.7%
20152.6%
20162.1%
2017P1.2%
2018P1.2%
19.5
22.9 23.3 23.9 24.413.5
11.2
25
Received Projected
Year
% Change
*2013 Housing Levy
12
2017 Property Tax Distribution
EMS2.6%Flood & Cons.
1.5%
County 9.5%
State GF19.7%
B'ham School40.3%
Port of B'ham2.5%
General Fund13.1%
Greenways4.4%
Fire / Police Pension 1.9%
Housing, 2.7%
City of Bellingham
22%
13
2017 Levy
General Fund $14,686,079
Greenways III 4,934,437
Affordable Housing 3,000,000
Fire / Police Pension 2,113,726
RDA LIFT 51,005
CITY TOTAL $24,785,247
14
Estimated Impact of 1% Increase
Amount
2017 Total Levy $24,785,000
1% Levy Increase $247,000
Levy $25,032,000
City Levy on $370,000
home
$955
15
2018 All Non-General Funds - $181 Million
$-
$25
$50
$75
$100
$125
$150
$175
$200
2013 2014 2015 2016 2017P 2018P
Taxes Grants, Entitlements & Interlocal
Charges for Services Utilites
Internal Services Other Sources
16
Real Estate Excise Tax - $3.8 Million
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
$3.5
$4.0
201232.9%
20130.0%
20148.7%
201544%
20162.8%
2017P2.7%
2018P0%
2.3 2.32.5
3.6 3.7
2.8
1.0
3.80
Received Projected
Year
% Change
17
Major Enterprise Fund Revenues
$0
$5
$10
$15
$20
$25
$30
$35
$40
2012 2013 2014 2015 2016 2017P 2018P
Street Fund Water Fund Wastewater Fund
Storm Water Fund Solid Waste Fund
18
Budget Calendar Key DatesOctober 23rd Afternoon
Evening
Budget Work Session
Public Hearing on revenue
forecast (property tax levy)
November 6th Afternoon Introduce Property Tax
Ordinance
November 13th Evening Close Written Public Comment
Adopt Property Tax Ordinance
Public Hearing on Budget
December 4th
Afternoon
Introduce Budget Ordinance
December 11th Evening Adopt Budget Ordinance
19
Presented by: Forrest Longman
Budget Manager, Finance Department
360.778.8005 fwlongman@cob.org
2018 Revenue Forecast
20
Street Fund Revenues - $16.6 Million* PW Admin & Eng. Fund
$0
$5
$10
$15
$20
$25
2012 2013 2014 2015* 2016 2017P 2018BTaxes Intergovernmental Goods & Services
Impact Fees Fuel Tax All Other
21
Water Fund Revenues - $25 Million
$0
$5
$10
$15
$20
$25
$30
$35
*2012 2013 2014 2015 2016 2017P 2018B
Metered Water Unmetered Water Bond / Loan / Misc
Watershed Goods & Services Demand Charges
*Watershed Rate Increase
22
Wastewater Fund Revenues - $26.1 Million
$0
$5
$10
$15
$20
$25
$30
$35
$40
2012 2013* 2014 2015 2016 2017P 2018B
Unmetered Wastewater Metered Wastewater
All Other Demand Charges
Contribution Financing*WWTP
23
Storm Water Fund Revenues - $9.4 Million
$0
$2
$4
$6
$8
$10
$12
$14
$16
$18
2012 2013 2014 2015 2016 2017P 2018B
Goods & Services Loan Capital contribution
Interest & Misc. Grants
24
Solid Waste Fund Revenues - $3.5 Million
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
$3.5
2012 2013 2014 2015 2016 2017P 2018B
Taxes Miscellaneous Goods & Services
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