City of Grosse Pointe Audit Presentation to the City Council For - PowerPoint PPT Presentation

City of Grosse Pointe Audit Presentation to the City Council For Year Ended June 30, 2019 0

City of Grosse Pointe General Fund Revenue Trend Years Ended June 30 $5,000,000 $4,500,000 $4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0 -$500,000 Investment Property Federal & Locally Income Other Taxes State Raised (Loss) 2016 $4,213,887 $476,036 $585,785 $173,106 $509,345 2017 $4,229,439 $504,092 $588,071 -$14,472 $495,053 2018 $4,317,867 $518,216 $614,273 $4,398 $478,418 2019 $4,417,514 $586,984 $535,136 $132,322 $495,743 1

City of Grosse Pointe Total Taxable Value (in millions) $450 $400 $350 $300 $250 $200 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 Percentage Change 0.0% -8.6% -7.8% -4.0% -2.5% 2.4% 1.2% 0.6% 0.7% 2.5% 3.7% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% Real Taxable Value $399.81 $365.49 $336.86 $323.44 $315.32 $322.75 $326.74 $328.74 $331.19 $339.47 $352.10 $359.14 $366.32 $373.65 $381.12 $388.75 $396.52 $404.45 $412.54 * Year Ended June 30 Taxable value for 2020 and thereafter is based on estimated inflation of 2.0% 2

City of Grosse Pointe General Fund Expenditure Trend Years Ended June 30 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0 Government Recreation & Public Safety Public Works Transfers Out Services Culture 2016 $1,290,984 $2,653,052 $469,297 $616,340 $731,000 2017 $1,406,301 $2,499,705 $475,345 $583,911 $900,000 2018 $1,429,047 $2,585,260 $553,957 $599,124 $830,000 2019 $1,599,660 $2,684,692 $608,409 $624,030 $673,163 3

City of Grosse Pointe Comparison of General and Capital Projects Fund Balances Years Ended June 30 $18,000,000 $ 15,783,378 $16,000,000 $14,000,000 $12,000,000 $10,000,000 $8,000,000 $5,205,617 $5,554,641 $4,424,897 $6,000,000 $4,000,000 $2,000,000 $0 2016 2017 2018 2019 Nonspendable $911,763 $830,582 $762,409 $687,241 Restricted $490,037 $488,968 $501,240 $10,367,275 Assigned - Capital Projects Fund $2,301,618 $2,713,721 $1,648,193 $3,136,654 Unassigned $1,502,199 $1,521,370 $1,513,055 $1,592,208 4

City of Gross Pointe Pension Plan Funding Status Total Pension Liability and Plan Assets 91.9% $45,000,000 94.3% 118.6% 135.0% 124.3% 106.9% $40,000,000 $35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $0 2014 2015 2016 2017 2018 2019 Assets Liabilities 5 5

Schedule of Future Pension Contributions FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 $0 $130,602 $161,739 $191,287 $219,547 6

City of Grosse Pointe Retiree Healthcare (OPEB) Funding Status OPEB Liabilities and Plan Assets $20,000,000 $18,000,000 $16,000,000 $14,000,000 $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 6.1% 6.2% 4.2% $0 2017 2018 2019 Assets Liabilities 7

THANK YOU For more information contact: Pamela Hill 810.766.6022 pamela.hill@plantemoran.com Joe Kowalski 248.223.3761 Joe.Kowalski@plantemoran.com Spencer Tawa 248.223.3232 Spencer.Tawa@plantemoran.com 8