On an annual basis the city accomplishes a budget and related tax levy. The process starts in May or June with preliminary numbers being reviewed with consideration towards the needs of the future. Most years the council holds some form of budget workshop to consider needs and priorities. The Finance Committee then works with staff to further develop the budget.
A preliminary levy is required to be submitted to the county by September 15th. This levy amount is then used to determine the preliminary tax rate which further establishes preliminary taxes for each property within the city. A notice is then sent to every property owner with that information. The notice also gives notice of when the city, county and school will hold their respective budget meetings.
Each year the budget process stays pretty much the same but each year there are budget challenges. The city council had established goals for this year which were met. Departmental expenditures were expected to stay the same as that of last year. Service delivery was to remain at a similar level and if possible the final levy was hoped to be reduced. The final budget reflects those goals and the final levy was reduced by $9,400.
I’d like to offer a bit more perspective on this. We have been doing more with less for a number of years. The levy in 2011 was about $50,000 less than that of 2010. The levy for 2012 saw no increase from that of 2011. The levy now for 2013 is $9,400 less than that of 2012. In addition with an advanced refunding of two of the city’s bonds we had a short term increase in debt service of about $25,000.
With this type of budget it is however difficult to move the city forward. This budget has no new initiatives or projects, it takes care of operations. Moving forward with improvements will take some planning. Some financial planning has occurred with the refinancing of two bonds. Two other bonds will be paid at the call dates in 2014 and 2015. Freeing up some debt service will help in that regard.
The bottom line for taxes payable in 2013 for the City of Breezy Point is the levy has been set at an amount that is $9,400 less than the levy for 2012. The budget for 2013 has also been set. As we move forward with that budget we’re cognizant of fiscal resources and keep spending in check. The City of Breezy Point has a bright future that can be managed with fiscal prudence.
