NOTICE OF PUBLIC HEARING BUDGET ESTIMATE – MASON CITY

“NOTICE OF PUBLIC HEARING

BUDGET ESTIMATE

Fiscal Year Beginning July 1, 2019 – Ending June 30, 2020

City of Mason City, Iowa

The City Council will conduct a public hearing on the proposed Budget at the Mason City Room, Mason City Public Library, Mason City, Iowa, on March 5, 2019, beginning at 7:00 o’clock P.M.

The Budget Estimate Summary of proposed receipts and expenditures is shown below. Copies of the detailed proposed Budget may be obtained or viewed at the office of the Administrator, City Clerk, Finance Department, or Library.

The estimated Total tax levy per $1000 valuation on regular property is $13.72143

The estimated tax levy rate per $1000 valuation on Agriculture land is

$3.00375

At the public hearing, any resident or taxpayer may present objections to, or arguments in favor of, any part of the proposed budget.

Kevin Jacobson, Finance Director, City of Mason City

		Budget FY	Re-estimated FY	Actual FY
		2020	2019	2018
		(a)	(b)	(c)
Revenues & Other Financing Sources
Taxes Levied on Property	1	16,042,570	15,354,489	14,853,090
Less: Uncollected Property Taxes-Levy Year	2	0	0	0
Net Current Property Taxes	3	16,042,570	15,354,489	14,853,090
Delinquent Property Taxes	4	0	0	0
TIF Revenues	5	1,669,536	2,095,289	1,337,789
Other City Taxes	6	5,700,217	5,673,880	5,975,282
Licenses & Permits	7	561,375	584,475	559,895
Use of Money and Property	8	553,322	484,182	801,274
Intergovernmental	9	7,048,377	10,656,076	6,803,108
Charges for Fees & Services	10	16,195,485	15,809,512	15,725,672
Special Assessments	11	0	0	0
Miscellaneous	12	5,059,627	5,221,357	5,182,731
Other Financing Sources	13	32,164,814	34,242,175	3,103,458
Transfers In	14	7,578,294	8,289,492	6,179,405
Total Revenues and Other Sources	15	92,573,617	98,410,927	60,521,704

Expenditures & Other Financing Uses
Public Safety	16	10,993,827	10,927,952	11,136,419
Public Works	17	3,985,112	3,942,314	3,996,491
Health and Social Services	18	395,205	389,138	375,985
Culture and Recreation	19	3,853,478	3,810,476	3,568,145
Community and Economic Development	20	4,132,293	3,961,657	2,593,889
General Government	21	6,472,814	6,952,422	5,549,574
Debt Service	22	4,868,188	4,584,568	4,879,585
Capital Projects	23	31,488,914	42,593,390	6,041,849
Total Government Activities Expenditures	24	66,189,831	77,161,917	38,141,937
Business Type / Enterprises	25	18,812,456	15,053,930	14,216,441
Total ALL Expenditures	26	85,002,287	92,225,847	52,358,378
Transfers Out	27	7,578,294	8,289,492	6,179,405
Total ALL Expenditures/Transfers Out	28	92,580,581	100,515,339	58,537,378
Excess Revenues & Other Sources Over
(Under) Expenditures/Transfers Out	29	-6,964	-2,104,412	1,983,921
Beginning Fund Balance July 1	30	24,004,068	26,108,480	24,124,559
Ending Fund Balance June 30	31	23,997,104	24,004,068	26,108,480