Citizen's Guide to Finances: Overview

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Revenues

Expenditures

Financial Position

Pension Liability

Debt and Long Term

Obligations

Revenue Source FY 17-18 FY 18-19 % Change FY 17-18
per capita		 FY 18-19
per capita
Taxes
$ 4,875,871
$ 5,035,024
3.3%
$ 383.99
$ 399.86
Licenses and permits
10,735
8,984
- 16.3%
0.85
0.71
Federal government
157,755
31,688
- 79.9%
12.42
2.52
State sources
1,004,514
1,512,727
50.6%
79.11
120.13
Local sources
59,820
283,208
373.4%
4.71
22.49
Charges for services
576,291
597,584
3.7%
45.38
47.46
Interest income
23,020
23,100
0.3%
1.81
1.83
Fines and forfeitures
4,132
6,451
56.1%
0.33
0.51
Other revenues
492,979
143,910
- 70.8%
38.82
11.43
Transfers in
595,664
332,651
- 44.2%
46.91
26.42
Total Revenues
$ 7,800,781
$ 7,975,327
2.2%
$ 614.33
$ 633.36
Expenditures FY 17-18 FY 18-19 % Change FY 17-18
Per Capita		 FY 18-19
Per Capita
Legislative
$ 75,996
$ 96,139
26.5%
$ 5.98
$ 7.63
Judicial
874,449
1,252,711
43.3%
68.87
99.48
General government
1,248,651
974,872
- 21.9%
98.33
77.42
Public safety
1,860,290
1,750,930
- 5.9%
146.50
139.05
Public works
-0-
7,114
n/a
-0-
0.56
Health and welfare
1,670,771
1,402,182
- 16.1%
131.58
111.35
Community /
  Econonomic develop
22,635
172,460
661.9%
1.78
13.70
Recreation and culture
16,364
25,256
54.3%
1.29
2.01
Capital outlay
111,157
146,011
31.4%
8.75
11.60
Other expenditures
1,507,632
1,573,131
4.3%
118.73
124.93
Debt service
-0-
124,948
n/a
-0-
9.92
Transfers out
640,160
366,250
- 42.8%
50.41
29.09
Total Expenditures
$ 8,028,105
$ 7,892,004
- 1.7%
$ 632.23
$ 626.75
Financial Position FY 17-18 FY 18-19 % Change
Total governmental revenues
$ 7,800,781
$ 7,975,327
2.2%
Total governmental expenditures
8,028,105
7,892,004
- 1.7%
Surplus (shortfall)
$ (227,324)
$ 83,323
136.7%
Restricted funds
$ 530,156
$ 662,858
25.0%
Assigned funds
291,212
381,963
31.2%
Unassigned funds
1,063,989
923,963
- 13.2%
Total Fund Balance
$ 1,885,357
$ 1,968,784
4.4%
Pension Plan Actuarial Valuations
   as of Decemeber 31,		 2017 2018 % Change Trend
Value of assets
$ 9,293,533
$ 9,300,753
0.1%
Accrued liability
13,679,950
14,300,204
4.5%
Overfunded (underfunded)
$ (4,386,417)
$ (4,999,451)
14.0%
Percent funded
67.9%
65.0%
- 4.3%
Unfunded liability as a percent
    of General Fund revenues
79.4%
86.8%
9.3%
Annual county contribution
$ 375,737
$ 434,939
15.8%
Active employees
69 
69 
n/a
Retirees and eligible inactive employees
77 
83 
7.8%
Ratio of employees to retirees
    (inc. eligible non-actives)
0.90
0.83
- 7.2%
Active employee salary
$ 2,327,855
$ 2,474,389
6.3%
Benefits paid (inc. deferred benefits)
$ 926,232
$ 1,019,624
10.1%
Long Term
Governmental Obligations		 FY 17-18 FY 18-19 % Change Trend
Notes payable
$ 969,426
$ 857,813
- 11.5%
Equipment financing
$ 83,129
$ 65,594
- 21.1%
Interest
$ 185,335
$ 147,857
- 20.2%
Sick leave
$ 39,562
$ 90,407
128.5%
Total long-term debt oblligations
$ 1,277,452
$ 1,161,671
- 9.1%
Total long-term debt, per capita
$ 100.60
$ 92.25
- 8.3%
Long-term debt, due within one year
$ 144,348
$ 145,122
0.5%
Long-term debt, due within one year
 per capita
$ 15.26
$ 14.04
- 8.0%

Prepared by MGT of America Consulting, LLC

Great Lakes Region

2343 Delta Road

Bay City MI, 48706