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2012 Tax Budget Meeting Minutes
Saturday, July 23, 2011 12:39:39 PM - Monroe Ohio

Monroe News Staff

On July 12, 2011, Monroe held a public hearing on the 2012 Tax Budget. Here are those minutes.

Public Hearing – 2012 Tax Budget
The Mayor stated that the 2012 Tax Budget will be presented by the Director of Finance.
Following this presentation, anyone wishing to speak will be given an opportunity to speak.
Council has the opportunity to question any speaker after they have completed their presentation.
Mrs. Waggaman explained that this is the start of a budget process and an ORC requirement
intended to help the County Budget Commission determine if you actually need the levies that
you are collecting for. The funds that receive property tax money are presented in detail and
there is a summary of all of the other funds that we have. This gives you three years of history
and current year estimates and projections for 2012. This is where the auditor gives us a
certificate of estimated resources that we base our appropriations on later in the year. It is very
early to start the budget process and we use this as a starting point focusing mainly on the
revenue projections. The numbers that you see in the tax budget reflect what we have presented
in the five year projection. The 2012 estimates are based on the current year five year forecast
and the permanent appropriations that were passed. For assumptions the 2011 estimates are
based on the current year five year forecast and the approved appropriations ordinance that was
passed earlier this year.
As you can see same as years passed, other than the general fund, police and fire both get
subsidized by the general fund and I make sure any excess is kept in the general fund. I am just
presenting a fund balance of the general fund. The trend going from 2008 to 2012 is rapidly
declining. We ended 2010 with a little over 5 million. It is estimated ending 2011 with 4.1
million and 2012 estimated with 2.1 million. House Bill 66 is when the state phased out the
personal property tax to make the state more business friendly. They were keeping us whole
until about a year ago and this year they decided it would stop. Not only will this be our last
payment, but they are giving us less than what was anticipated. The effect on 2011 is 178,000
that we will get less and 2012 is 420,000. The SB 3 reimbursement is what we used to receive
approximately 50,000 per year. This year we will get half and then next near it will be phased
out completely. The local government fund they anticipated giving us 50 percent this year and
phasing it out completely next year. When it passed it was reduced by 25% each year. The
State’s fiscal year goes July 1st to June 30th. Total loss this year is 233,000 and next year is
560,000. The average five year estate tax is 415,000 per year. Last year we received 735,000
and this year we have received 46,000. Because of that great variance we normally do not
include that in projections, but it is still taken away from us.
Income tax revenue, as that is our biggest source in the general fund, you will see in June (when
you receive the reports at the next meeting) it was up significantly from last year. This brought
our year-to-date to 5% in our forecast I still show it being level for 2011 because as we get a
couple more months under in I won’t update the forecast. We should end the year with a 3%
increase. Starting with 2008 to 2012 the general fund expenses are all the departments in
administration including council, parks, dispatch, and building and grounds. In 2008 we were
not transferring anything to streets and we began subsidizing them in 2009. Fire/EMS and Police
are the largest transfers out and have increased over time. We have issued short term debt in the
past and rolled to long term last August. That level should stay consistent over the coming years
unless we do another issuance. Capital, you can see in 2008 was about 750,000 and represents
street resurfacing money. This dropped in 2009 and almost nothing in 2010 and nothing for
2011. In 2012 and farther we have put in 500,000 and we have never caught up from being in
fiscal emergency on needed resurfacing.
Mr. Kelley asked if the possible 5% additional revenue was included in the forecast. Mrs.
Waggaman stated that it is not included in the forecast. It was just affected this past month and
next month if collections are down it could take it right back down to zero. We have to wait and
see as it is too early to tell right now.
Mrs. Hale moved to close the public hearing; seconded by Mr. Kelley. Voice vote: six ayes.
Motion carried.
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