City of Brighton Audit Presentation to the City Council FOR THE YEAR - PowerPoint PPT Presentation

City of Brighton Audit Presentation to the City Council FOR THE YEAR ENDED JUNE 30, 2018 1

City of Brighton General Fund Revenue (excludes Imagination Station Maintenance Fund, Principal Shopping District Fund, and the Arts and Cultural Commission Fund) Fiscal Year Ended June 30, 2018 Interest, Rentals, and Other, 3% S tate S hared Revenue, 10% Licenses and Permits, 7% Fines and Penalties, 3% Charges for S ervices, 9% Property Taxes, 68% 2

City of Brighton General Fund Revenue (excludes Imagination Station Maintenance Fund, Principal Shopping District Fund, and the Arts and Cultural Commission Fund) Years Ended June 30 $8,550 $9,000 $7,890 $7,960 $8,000 $7,000 (Dollars in 000s) $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 $0 2016 2017 2018 Interest, Rentals, and Other $173 $132 $219 Licenses and Permits $427 $454 $596 Fines and Penalties $285 $276 $274 Charges for S ervices $691 $709 $732 Property Taxes $5,551 $5,721 $5,834 S tate S hared Revenue $763 $666 $895 3

City of Brighton Taxable Value vs. State Equalized Value (in Millions) Years Ended June 30 600 500 2009 Baseline TV 400 300 200 100 0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 TV 459 452 435 412 401 394 401 418 426 427 SEV 516 495 470 435 420 412 434 466 514 517 4

City of Brighton General Fund Expenditures (excludes Imagination Station Maintenance Fund, Principal Shopping District Fund, and the Arts and Cultural Commission Fund) Year Ended June 30, 2018 12% 20% 1% General Government Public S afety Public Works Community Development 28% Transfers and Other 39% 5

City of Brighton General Fund Expenditures (excludes Imagination Station Maintenance Fund, Principal Shopping District Fund, and the Arts and Cultural Commission Fund) Years Ended June 30 $9,000 $7,928 $7,727 $8,000 $7,313 $7,000 $6,000 (in 000s) $5,000 $4,000 $3,000 $2,000 $1,000 $0 2016 2017 2018 Community Development $507 $403 $75 Transfers and other $1,328 $1,098 $911 Public Works $1,837 $2,044 $2,018 Public S afety $2,625 $2,801 $2,837 General Government $1,631 $1,381 $1,472 6

City of Brighton Expenditures Trends (Budgetary Basis) Years Ended June 30 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $ ‐ General Transfer and Community Public Safety Public Works Government Other Development 2016 $2,625,000 $1,837,000 $1,631,000 $1,328,000 $507,000 2017 $2,801,000 $2,044,000 $1,381,000 $1,098,000 $403,000 2018 $2,837,000 $2,018,000 $1,472,000 $911,000 $75,000 7

City of Brighton Comparison of General Fund Balances Years Ended June 30 $8,500 $8,000 $7,500 $1,477 (Dollars in 000s) $1,211 $1,061 $1,022 $1,379 $7,000 $6,500 $6,000 $6,629 $6,633 $6,649 $6,600 $6,402 $5,500 $5,000 2014 - 22.2% 2015 - 16.0% 2016 - 18.3% 2017 - 15.4% 2018 - 21.5% Annual Expenditures* Unassigned Fund Balance * Annual expenditure figures exclude transfers to other funds and exclude the Imagination Station Maintenance Fund, Principal Shopping District Fund, and the Arts and Cultural Commission Fund 8

City of Brighton Unfunded Legacy Costs Year Ended June 30, 2018 $16,000,000 $14,984,269 $14,000,000 $12,798,216 $12,000,000 $11,080,551 $10,000,000 $8,000,000 $8,192,857 $6,000,000 $4,000,000 $2,000,000 $ ‐ Pension (8% Discount rate) Pension (7% Discount rate) Retiree Healthcare (7.59% Discount rate) Retiree Healthcare (6.59% Discount rate) 9

City of Brighton Unfunded Liabilities vs. General Fund Revenue/Expense Year Ended June 30, 2018 $80,000,000 $9,000,000 $8,000,000 $70,000,000 $12,798,216 $7,000,000 $60,000,000 General Fund OPEB $8,192,857 Revenue $6,000,000 $50,000,000 $5,000,000 $40,000,000 Pension General Fund $4,000,000 Personnel, Debt $30,000,000 Service, Refuse $50,000,000 Collection, and Capital* $3,000,000 Street Lighting $20,000,000 Costs $2,000,000 $10,000,000 $1,000,000 $0 Unfunded Liabilities $0 * Management’s estimated unfunded liability for capital is $50 million ‐ $40 million relates to roads and $10 million relates to other capital 10

City of Brighton Depreciable Capital Asset Summary Governmental Activities 35,000,000 30,000,000 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 ‐ Governmental Activities ‐ Roads and Governmental Activities ‐ Buildings and Governmental Activities ‐ Equipment and sidewalks improvements other Cost Accumulated Depreciation 11

City of Brighton Depreciable Capital Asset Summary Utility Fund 35,000,000 30,000,000 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 ‐ Water and sewer lines Retention basin and Building and treatment facilities machinery/equipment Cost Accumulated Depreciation 12

City of Brighton — Year Ended June 30, 2018 2017 Levy Homestead Property Tax Analysis Brighton Area Fire Authority 1.4938 Library .8828 County 3.9776 LISD 3.3351 Brighton Area Schools 7.19 Total School 42.76% State ed. tax 6.000 City Total City 40.80% operating/public safety/economic development 15.7705 13

THANK YOU For more information contact: Martin J. Olej nik, Partner (248) 223-3662 Tim S t. Andrew, Manager (313) 496-8542 14