Details for City of Coos Bay - Ad from 2019-05-25

101-PUBLIC NOTICES FORM LB-1 20346708 NOTICE OF BUDGET HEARING A public meeting of the City of Coos Bay City Council will be held on June 4,2019 at 7:00 pm at the Coos Bay Council Chambers 500 Central, Coos Bay, Oregon. The purpose of this meeting is to discuss the budget for the fiscal year beginning July 1, 2019 as approved by the City of Coos Bay Budget Committee. A summary of the budget is presented below. A copy of the budget may be inspected or obtained at 500 Central, Coos Bay, Oregon, between the hours of 8:00 a.m. and 5:00 p.m. This budget is for an annual budget period and was prepared on a basis of accounting that is the same as used the preceding year. Contact: Nichole Rutherford TOTAL OF ALL FUNDS Telephone: (541) 269-8915 Email: nrutherford@coosbay.org FINANCIAL SUMMARY - RESOURCES Actual Budget Adopted Budget Approved Budget Beginning Fund Balance/Net Working Capital Fees, Licenses, Permits, Fines, Assessments & Other Service Charges Federal, State and All Other Grants, Gifts, Allocations and Donations Revenue from Bonds and Other Debt Interfund Transfers / Internal Service Reimbursements All Other Resources Except Property Taxes Property Taxes Estimated to be Received Total Resources 2017-18 26,230,504 17,646,484 5,331,522 14,498,462 3,389,785 3,811,756 6,018,546 76,927,059 This Year 2018-19 22,304,554 11,014,014 4,947,748 8,325,000 5,099,284 11,117,032 5,980,178 68,787,810 Next Year 2019-20 20,021,275 12,997,556 6,006,571 8,302,648 4,358,047 3,405,333 6,510,297 61,601,726 FINANCIAL SUMMARY - REQUIREMENTS BY OBJECT CLASSIFICATION 11,441,078 12,768,498 13,072,021 Personnel Services 6,196,595 8,454,669 8,865,027 Materials and Services 18,367,858 17,332,739 17,964,186 Capital Outlay 3,460,058 13,399,425 5,555,395 Debt Service 3,389,785 5,079,926 4,358,047 Interfund Transfers 0 5,128,534 2,524,979 Contingencies 34,071,685 6,624,019 9,262,074 Unappropriated Ending Balance and Reserved for Future Expenditure 76,927,059 68,787,810 61,601,726 Total Requirements FINANCIAL SUMMARY - REQUIREMENTS BY ORGANIZATIONAL UNIT OR PROGRAM 6,534,790 5,324,903 4,949,422 General Government Fund 1 (100-195) 7 6 6 FTE 4,867,707 5,219,584 5,685,342 Police Department Fund 1 (240-243) 36 37 38 FTE 2,630,976 2,627,430 2,697,234 Fire Department Fund 1(261) 16 16 16 FTE 855,922 927,977 957,075 Public Works & Community Development Fund 1 (301-306) 6 6 6 FTE 1,769,641 1,823,000 1,829,778 State Gas Tax Fund 2 5 5 5 FTE 16,442,348 9,598,108 9,393,126 Wastewater Fund 3 FTE 11 12 10 1,012,941 754,000 1,271,000 Hotel/Motel Tax Fund 5 FTE 3 3 3 Coos County Library Service District Extended Services Office Fund 14 1,143,216 974,198.00 848,871 FTE 4 4 4 Library Fund 7 2,100,762 1,783,300 2,180,800 FTE 15 15 15 Building Codes Fund 8 612,851 531,950 705,800 FTE 3 4 4 9-1-1 Tax Fund 10 222,393 226,093 224,710 FTE 2 2 2 Non-Department/Non-Program Funds 11-44 38,733,512 38,997,267 30,858,568 FTE 1 1 1 Total Requirements 76,927,059 68,787,810 61,601,726 Total FTE 109 111 109 STATEMENT OF CHANGES IN ACTIVITIES and SOURCES OF FINANCING The City of Coos Bay’s General Fund budget includes du jour financing to the Urban Renewal Agency. Personnel expenditures represent collective bargaining agreements with the International Association of Firefighters at 1.5%; Coos Bay Police Officer’s Association at 2.5%; American Federation of State, County, and Municipal Employees at 2.4%; and non-represented staff at 2%. The Wastewater Fund includes a rate increase of 6.5% to cover operations and to meet DEQ mandated improvements in capital improvements over the next two decades. The policy decision to manage the wastewater debt as a way to stabilize rates was based on the Sewer Rate – Cost of Service Study with the actual costs based upon current values. The budget includes DEQ SRF and IFA loan proceeds over $8 million. The full budget is located at www.coosbay.org. PROPERTY TAX LEVIES Rate or Amount Approved Rate or Amount Approved Rate or Amount Approved Permanent Rate Levy (rate limit 6.3643 per $1,000) 6.3643 6.3643 6.3643 Levy For General Obligation Bonds $ 497,000 $ 546,834 $ 516,114 STATEMENT OF INDEBTEDNESS Estimated Debt Outstanding on July 1 Estimated Debt Authorized, But Not Incurred on July 1 LONG TERM DEBT $3,620,000 $0 General Obligation Bonds $38,954,472 $20,432,192 Other Borrowings $42,574,472 $20,432,192 Total Published: May 25, 2019 The World & ONPA (ID-20346708)

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