Fiscal Year 2013/14
Budget Highlights
Public Information Meeting 2/25/13
$ 86.9 million
1
“Stays the course” and “follows the financial plan”
we established several years ago and continues our
history of:
 Maintaining healthy cash reserves
 Significant levy growth available under $8.10
and ability to implement benefit levies.
 Conservative spending
 Stable revenue streams
 Strong fiscal planning and adherence to fiscal
policies
2
1) Continuing our conservative spending:
 All major City funds are balanced. Most operating budgets continue
to be frozen, but adequately fund City services.
 We recommend an especially conservative approach in anticipation
of the proposed commercial property tax rollback and capping of
future growth of property tax revenue across all property classes.
3
2) Funding Aggressive CIP Program previously discussed:
 Supports our growing community’s infrastructure needs
(New and existing Roads, Storm water improvements, Sewer expansion)
 Maintains and enhances our City’s Cultural and Recreation amenities
(FMAS, Library, Parks, Recreation Trails, Golf improvements etc.)
 Impact:
 Maintains Debt Levy Rate at $5.00 per $1,000 assessed taxable valuation
 The proposed Debt Margin Ratio is approximately 76% for FY 13/14
4
3) Lastly, continuing our practice of “raising revenues incrementally” as
planned during the last several years:
User Fees:
 Recommend planned incremental increases in several Enterprise Funds’ user fees:
 3% Garbage, $0.20 Sewer, $0.35 Storm water . The increased user fees will continue to allow
those operations to be self-sufficient and are primarily project driven.
Property Taxes:
 We recommend MAINTAINING the current levy rate at $12.55
 Despite no increase, changes in assessed values and the state rollback formula will
increase the property tax bill on a median $162,235 home by 4.3% or $42.04.
 Commercial properties will not see a property tax increase unless their values have
increased.
 Maintaining the levy rate will allow the City to benefit from $890,241 of
additional taxes needed to support current City operations. (45% from new
construction)
 Bettendorf continues to realize Excellent Growth in our tax base which
allows greater flexibility for budget priorities. Gross values increased
$51.2M.
5
Where the money comes from FY 13/14
Net of transfers & Internal Service Funds
Source
Property taxes
TIF revenues
Other city taxes
Licenses & permits
Use of money
Intergovernmental
Charges for services
Special assessments
Miscellaneous
Bond proceeds
Other financing sources
Total net of transfers
Transfers in
Internal Service Funds
Total Budget
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
FY 12/13
22,107,379
2,105,610
8,164,850
737,310
536,324
5,893,991
11,068,606
22,667
2,098,624
10,750,000
1,432,786
64,918,147
8,369,301
6,780,934
80,068,382
Miscellaneous
3.27%
Special assessments
0.03%
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
FY 13/14
22,997,618
2,078,304
8,370,792
684,310
520,419
5,478,289
11,554,221
18,167
2,126,551
10,520,000
731,000
65,079,671
8,320,940
7,339,386
80,739,997
Percent change
4.03%
-1.30%
2.52%
-7.19%
-2.97%
-7.05%
4.39%
-19.85%
1.33%
-2.14%
-48.98%
0.25%
-0.58%
0.00%
0.84%
Other financing sources
1.12%
Bond proceeds
16.16%
Charges for services
17.75%
Use of money
0.80%
Licenses & permits
1.05%
Intergovernmental
8.42%
Property taxes
31%
Other city taxes
12.86%
TIF revenues
3.19%
6
Where the money goes FY 13/14
Net of transfers & Internal Service Funds
Category
Public Safety
Public Works
Debt Service
Culture & Recreation
Community & Economic Development
General Government
Capital Projects
Business Type/Enterprises
Total net of transfers & Internal Service Funds
Transfers out
Internal Service Funds
Total Budget
FY 12/13
10,133,198
3,275,404
13,956,647
4,224,632
2,267,377
3,752,552
16,639,268
17,595,063
71,844,141
8,369,301
6,796,178
87,009,620
FY 13/14
10,768,394
3,271,250
12,619,977
4,424,778
1,829,431
3,787,301
16,523,119
17,982,506
71,206,756
8,320,940
7,372,252
86,899,948
Percent change
6.27%
-0.13%
-9.58%
4.74%
-19.32%
0.93%
-0.70%
2.20%
-0.89%
-0.58%
8.48%
-0.13%
General Government
5.32%
Community &
Culture & Recreation
Economic
6.21%
Development
2.57%
Capital Projects
23.20%
Debt Service
17.72%
Public Works
4.59%
Public Safety
15.12%
Business Type
32.82%
7
1) Maintain the City’s Levy Rate at $12.55


Bettendorf is one of a few Iowa cities
with a General Fund levy below $8.10.
This allows a 7% growth equating to
$989,608 of potential property taxes.
Bettendorf also has capacity within
the “amount necessary” levies, which
if implemented equates to another
$4.7 million in taxes.
• Police & Fire Retirement
• FICA & IPERS
• Other Employee Benefits (Health
Insurance)
• Liability Insurance
FY 12/13
General Fund
FY 13/14
$7.55
$7.55
Health
Insurance
0
0
Liability
Insurance
0
0
Police & Fire
Pension
0
0
Debt Service
$5.00
$5.00
$12.55
$12.55
Levy Rate
8
Residential (Rollback increased to 52.8%)
Impact
$100,000 Assessed Value
+$25.91 ($2.16 per month)
$162,235 Assessed Value (Median)
+$42.04 ($3.50 per month)
$250,000 Assessed Value
+$64.78 ($5.40 per month)
Commercial (Rollback remains 100%)
Any Assessed Value
Impact
$0.00
(-$0.00 per month)
 Despite maintaining the levy rate, taxes on residential property will increase due to:
 4.07% increase in the state mandated rollback on residential property (50.76% to 52.82%)
9
Taxes Current Year
How We Compare to Other Cities?
In order by Levy Rate of all Iowa cities with populations over 20,000, plus Clive
Urbandale
Clive
Ames
Dubuque
Ankeny
West Des Moines
Cedar Falls
Bettendorf
Mason City
Marion
Marshalltown
Burlington
Cedar Rapids
Clinton
Muscatine
Sioux City
Davenport
Des Moines
Iowa City
Council Bluffs
Waterloo
Fort Dodge
Ottumwa
Average of 23 Cities
Census
39,463
15,447
58,965
57,637
45,582
56,609
39,260
33,217
28,079
34,768
27,552
25,663
126,326
26,885
22,886
82,684
99,685
203,433
67,862
62,230
68,406
25,206
25,023
55,342
*Source: Iowa Department of Management - Local Budget Division
Taxable Value for
FY 12/13
$
2,257,642,565
$
1,130,282,183
$
2,239,846,934
$
2,108,760,803
$
2,077,447,740
$
3,760,753,897
$
1,401,199,407
$
1,788,749,827
$
1,008,218,704
$
1,227,370,278
$
775,799,102
$
656,332,652
$
5,687,145,890
$
943,456,170
$
781,443,576
$
2,318,091,866
$
3,947,966,201
$
6,440,220,679
$
2,946,951,863
$
2,349,585,815
$
2,290,335,896
$
624,130,482
$
622,356,319
$
2,147,134,298
Taxable Value
per Capita
$
57,209
$
73,172
$
37,986
$
36,587
$
45,576
$
66,434
$
35,690
$
53,850
$
35,907
$
35,302
$
28,158
$
25,575
$
45,020
$
35,092
$
34,145
$
28,036
$
39,604
$
31,658
$
43,426
$
37,756
$
33,482
$
24,761
$
24,871
$
39,535
FY 12/13
Total Levy
$
9.62
$
9.99
$
10.72
$
10.78
$
12.03
$
12.05
$
12.20
$
12.55
$
13.55
$
13.62
$
14.28
$
15.06
$
15.22
$
15.33
$
15.67
$
15.99
$
16.78
$
16.92
$
17.27
$
17.85
$
18.21
$
19.93
$
20.34
$
14.61
FY 12/13
General
Fund Levy
$
7.17
$
7.17
$
5.83
$
8.10
$
7.03
$
8.10
$
8.10
$
7.55
$
8.10
$
8.10
$
8.10
$
8.10
$
8.10
$
8.10
$
8.10
$
8.10
$
8.10
$
8.10
$
8.10
$
8.10
$
8.10
$
8.10
$
8.10
$
7.85
10
FY 2013/14 Budget Highlights
2. Provides funding for most existing City services:

Maintains stable operating budgets. Largest increases resulting from
Employee Health Insurance, Risk Management, Police & Fire pension,
IPERS and fuel related costs. Continues close monitoring of over-time

Funds Road Salt budget and liquid application program at $500,000

Funds a program to begin Emerald Ash Borer treatment on city
properties.

Funds wage increases for all union and non-union employees

Transfer of the administration of the Section 8 program

Reduction/Elimination of the Transit Loop service

(Federal grant ends 6/30/13)
11
The FY 13/14 budget addresses six major issues that increased
expenditures or reduced revenue.
General Fund
Other Funds
Total Citywide
Risk Management
12,888
80,369
93,257
Health Benefit
210,150
234,579
444,729
MFPRSI (26.12% to 30.12%)
211,735
0
211,735
IPERS (8.67% to 8.93%)
15,904
9,871
25,775
Wage Increases (Union
Contracts, COLA, Deferred,
Merit, Steps & Contracted
Employees)
320,058
70,973
391,031
Major Budget Issues
Condo & Coop Reclassification
TOTAL
112,039
$770,735
$395,792
$1,278,566
12
Funds final year of four year contracts with all of our bargaining units
Bargaining
Unit
FY 10/11
FY 11/12
FY 12/13
FY 13/14
Fire
0% COLA
2% Deferred
1.50% COLA 7/1/11
1.50% Deferred 1/1/12
2.75% COLA
2.90% COLA
(plus 1% if
pension is
<35.32%)
Police
2% COLA
2.35% COLA
.50% Deferred
3% COLA
.25% Deferred
2.75% COLA
.75% Deferred
AFSCME General
2% COLA
3% COLA
3.25% COLA
3.50% COLA
AFSCME Library
2% COLA
3% COLA
3.25% COLA
3.50% COLA
Non-Union
Employees
2% COLA
3% COLA
3.25% COLA
3.50% COLA
13
Revenue source:
FY 09/10
Actual
FY 10/11
Actual
FY 11/12
Actual
FY 12/13
Estimate
FY 13/14
Budget
Property taxes
19,267,371
19,829,519
20,786,732
22,107,379
22,997,618
Charges for Services
14,460,857
15,468,962
16,525,874
17,760,533
18,808,207
Local Option Sales Tax
4,123,192
4,379,062
4,584,685
4,636,467
4,821,925
Road Use Tax
2,724,484
2,981,875
3,124,925
3,209,000
3,290,000
Gaming
1,684,304
1,658,400
1,608,845
1,600,000
1,624,000
Interest Earnings
935,570
583,842
604,865
576,924
559,819
Hotel/Motel Tax
781,543
803,119
738,376
805,000
805,000
Building Permits
547,500
503,290
558,417
631,000
578,000
Utility Tax
755,748
707,752
748,281
741,083
737,567
Cable Franchise
374,172
379,885
374,108
375,000
375,000
Total Major Revenues
49,043,048
50,695,706
53,055,108
55,842,386
57,997,136
Total All Revenues Net of
Bond Proceeds, Other
Financing Sources and
Intergovernmental
51,498,057
52,901,996
54,149,370
56,824,169
58,824,145
10 Major Revenues as a
% of All Revenues
95.23%
95.83%
97.98%
98.27%
98.59%
14
Year
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
Number
3,416
3,294
2,951
2,700
3,095
3,420
3,680
3,717
3,397
3,247
2,980
3,392
3,487
3,740
Value
$69,120,944
$81,802,346
$58,148,406
$58,504,974
$43,946,075
$78,686,737
$100,236,047
$66,134,674
$68,651,169
$57,729,471
$71,998,617
$40,678,917
$45,339,525
$44,998,573
(a)(b)
Number
145
108
115
77
96
134
154
194
146
120
85
144
143
158
Value
$36,595,105
$34,107,943
$28,361,980
$21,057,198
$24,200,996
$37,831,573
$34,873,928
$41,928,319
$30,265,151
$25,087,080
$19,495,481
$26,184,082
$24,158,546
$26,947,091
(a) Commercial permits in 2012 included: DHCU Credit Union, 3230 Ridge Pointe; Office addition, 3275-3289
Utica Ridge Rd.; Plantation Development, 872-884 Tanglefoot Ln.; Ascentra Credit Union, 2339 53rd Ave;
Charles A Ruhl/Russell Construction, 3252-3264 Ridge Pointe.
(b) Taxes on value of permits issued in 2012 w ill be collectible in FY 14/15.
15
Fund
General
% of expenditures
Road Use
% of expenditures
FY 09/10
Actual
5,267,035
26.09%
365,996
10.87%
FY 10/11
Actual
5,358,631
26.49%
382,553
FY 11/12
Actual
5,514,282
26.72%
575,172
FY 12/13
Projected
5,514,282
24.59%
588,678
10.57%
17.67%
18.14%
FY 13/14
Projected
5,514,282
23.94%
643,573
19.80%
Gaming
681,544
85,692
98,214
57,476
121,108
Sales Tax
638,608
923,114
506,598
351,573
201,345
Vehicle
726,276
885,395
731,604
806,402
901,656
Electronic Equipment
769,568
675,351
502,844
415,604
381,559
Health Insurance
987,458
948,792
984,971
984,971
984,971
Risk Management
627,788
630,737
647,205
663,890
663,890
16
5) Health Insurance –
 Recommend renewal with Wellmark with 11% increase in “total
projected maximum costs” vs. 7.5-10% national
 History of health claims: 8 year average increase 9.68% (National
average 7.5-10%)
 Maintain Specific Stop Loss at $70K
 Ample cash reserves in excess of $1 million are available to fund
claims up to maximum aggregate attachment point (125% of
expected claims)
 Health Committee continues to meet regularly to monitor our existing
health care plan
17
6) Liability Insurance –
Total Liability Insurance up $93,257 or 13.56%.
 Workers Compensation Fees up: $80,887 or 19.92%
Mod rate 1.05 due to Actual Losses exceeding Expected losses in one of the
last three years with a “good” year dropping off
 Striving to manage our Work Comp insurance costs although…..
 Continue to have increased wages
 Average 10% State of Iowa published rate increases on various job
classifications expected.
18
$1.565 million allocated to supplement operating budgets for:
Enterprise Funds - $1,094,750 up $51,602 from
$1,043,148 current year
 Economic Development - $215,618
 Downtown Improvements - $100,000
 General Fund – City Beautification $95,000, July 4th
$30,000 & Emerald Ash Borer treatment $30,000

If not for Gaming Revenue, user fees would be significantly higher or property taxes would
be needed to supplement budgets.
19
$1.5 million
18th St. Maplecrest to Echodale, Spruce Hills to Tech Dr., Avalon to
Spruce Hills
$1.3 million
3rd phase of Tanglefoot, Greenbrier to Utica Ridge 3 lanes, separated trail
$1 million
1st phase of Hopewell Ave paving, Middle to east line of Century Heights
to 18th addition
$500,000
Utica Ridge Road: Spruce Hills to Tanglefoot Lane – 5 Lane
$1.57 million
Various separated trails: Middle Rd. from Devils Glen to Duck Creek;
Devils Glen Rd. from Middle Rd. to Crow Creek Park
$750,000
Sealcoat Reconstruction Program – Including 26th St.
$1.1 million
Forest Grove Rd. paving – 3 lanes, rec trail
$510,000
Street Resurfacing Program
$1.12 million
Street Reconstruction Program
$190,000
Bridge Maintenance Program
$555,000
Sidewalk Program
$370,000
Various Community & Economic Development projects
20
$700,000
Forest Grove Park Development
$625,000
Full Depth Patching Program
$300,000
Recreation Trails along Crow Creek from Devils Glen to Field Sike
$260,000
Annual funding for Parks projects
$267,000
Various Traffic projects
$635,000
Alley Rehabilitation Program
$250,000
I-80 water main extension
$275,000
Miscellaneous Public Works projects
$150,000
Rural Road Sealcoating Program
$850,000
Downtown Improvements, Façade program and I-74 relocation program
$515,000
Various city-wide projects including Library space remodel
$100,000
Pavement Preservation Program
$25,000
Curb & Gutter Replacement Program
$15,000
Pavement Management Program
21
Community Improvement Program continued
 Enterprise
Fund Projects: $130,800
Palmer Hills Golf
Course
Tee box & sand trap
Improvements
$20,000
Family Museum
LED Lighting Replacement in
Great Hall
$20,800
Life Fitness Center
Tennis court resurfacing and gym
floor repair
$90,000
22



FY 13/14 Budget funds $1,208,323 of new/replacement vehicles
$147,000
Police: 4 detective vehicles, 1 crime scene van
$32,000
Community Development: Pick-up with utility box
$409,246
Public Works: 2 ¾ ton pick-ups, 2 1-ton pick-ups, 2 single axle
dump trucks
$115,000
Parks: Utility Cart, 10’ mower, zero turn mower
$370,077
Storm Water: Sewer Vaccon, ¾ ton pick-up
$135,000
Solid Waste: Rear load garbage packer
Funds $147,600 of new/replacement electronic equipment
Funds $278,000 of new/replacement capital equipment
 ($140,000 at QCWCC)
23
Continue to adjust user fees, when appropriate, to offset increases in the cost of
programs.
Solid Waste
3% effective 4/1/13
Storm Water
$0.35 per ERU/mo effective 4/1/13
Sewer
$0.20 per 100 cubic feet of flow effective 4/1/13
LFC
Personal training fees increased 1/1/13 (PB Resolution 61-12)
Palmer Hills G.C.
$1 increase to 18 hole rounds, junior rounds, 18 hole carts, small range baskets,
junior senior range baskets & introduction of season passes (PB Resolution 53-12)
Splash Landing
Introduction of $25 concession area rental fee (PB Resolution 62-12)
Recreation
$10 increase to adult softball teams & youth flag football, $5 increase to sports &
games camp, $2.50 increase to Tot Lot (PB Resolution 57-12)
Family Museum
No fee increase. Fee structures will be examined in January, 2014.
Transit
No fee increase.
24
City of Bettendorf
FY 2013/14 Budget Review
Garbage Fees
Size
Current
Monthly
Fee
Annualized
Monthly
fee
beginning
4/1/2013
Monthly
Increase
Annualized
Annual
Increase
3.00%
Percentage increase
Monthly fee Monthly fee Monthly fee Monthly fee Monthly fee
beginning
beginning
beginning
beginning
beginning
4/01/2014 4/01/2015 4/01/2016(1) 4/01/2017 4/01/2018
3.00%
3.00%
4.00%
4.00%
4.00%
32 gallon/twice per mo
6.39
76.68
6.58
0.19
78.96
2.28
6.78
6.98
7.26
7.55
7.85
32 gallon
9.57
114.84
9.86
0.29
118.32
3.48
10.16
10.46
10.88
11.31
11.77
65 gallon
12.75
153.00
13.13
0.38
157.56
4.56
13.52
13.93
14.49
15.07
15.67
95 gallon
15.94
191.28
16.42
0.48
197.04
5.76
16.91
17.42
18.12
18.84
19.60
 Continue 3% increases each April 1 to balance revenues and
expenditures – BREAKEVEN
 With the implementation of single stream recycling carts and trucks,
4% increases may be needed beginning 4/1/16.
25
City of Bettendorf
FY 2013/14 Budget Review
Storm Water Fees
Rates
beginning
4/1/2013
Current
Rates
Increase
Beginning
4/01/2014
0.35
Rate Increase
Beginning
4/01/2015
Beginning
4/01/2016
Beginning
4/01/2017
Beginning
4/01/2018
0.35
0.35
0.35
0.11
0.12
Rate per ERU
2.35
2.70
0.35
3.05
3.40
3.75
3.86
3.98
Monthly Cost per Average ERU of 1.25
2.94
3.38
0.44
3.81
4.25
4.69
4.83
4.98
35.25
40.50
5.28
45.75
51.00
56.25
57.90
59.70
Annual Cost per Average ERU of 1.25
Note: Fee increases are primarily project driven. See CIP for details.
Storm Water Rates with Planned Increases
Previous Rate
$0.35
$0.35
Increase
$0.35
$0.50
$1.50
FY
07/08
$0.35
$2.00
$2.00
$2.00
$2.00
$2.35
$2.70
$3.05
FY
08/09
FY
09/10
FY
10/11
FY
11/12
FY
12/13
FY
13/14
FY
14/15
3%
$0.11
3%
$0.12
$0.35
$3.40
$3.75
$3.86
FY
15/16
FY
16/17
FY
17/18
Fee increases are
primarily project
driven. See CIP
for details.
26
$1.3 million
Stafford Creek Bank Stabilization 18th to Crow Creek Rd., Tanglefoot –
Maplecrest
$300,000
Middle Rd. – Stafford Creek Culvert
$1.3 million
Small storm sewers, sewer linings, intake repair
$490,000
Hopewell Creek detention at school
$400,000
Blackbird Creek bank stabilization
$435,000
Duck Creek stabilization, various phases
$730,000
Greenway Creek stabilization, Terrace Park Dr. to Golden Valley Dr.
$300,000
West Pigeon Creek bank stabilization
$720,000
Pigeon Creek bank stabilization – 53rd to Crow Creek
$549,000
Small storm water projects
27
City of Bettendorf
FY 2013/14 Budget Review
Sewer Fees
Current
Rates
Rates
Beginning
4/1/2013
Increase
Beginning
4/01/2014
0.20
Rate Increase
0.20
0.20
0.09
0.08
0.20
2.28
2.48
2.68
2.76
2.84
13.78
15.25
1.47
16.71
18.18
19.64
20.23
20.82
165.36
182.96
17.64
200.55
218.14
235.73
242.77
249.81
Increase
$.20
$0.20
$1.68
$1.68
$1.68
FY
07/08
FY
FY
FY
08/09 09/10 10/11
Beginning
4/01/2018
2.08
Previous Rate
$1.48
Beginning
4/01/2017
0.20
Sewer Rates with Planned Increases
$0.20
Beginning
4/01/2016
1.88
Rate per 100 cu.ft.
Monthly Cost of Average Usage (7.33
cu.ft. per month)
Annual Cost of Average Usage
Beginning
4/01/2015
$1.68
$0.20
$1.88
$0.20
$2.08
3%
3%
$0.20
$2.28
$2.48
$2.68
$2.76
Fee increases
are primarily
project driven.
See CIP for
details.
FY
FY
FY
FY
FY
FY
FY
11/12 12/13 13/14 14/15 15/16 16/17 17/18
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$3.5 million
I-80 interceptor sewer from Forest Grove to Indiana, lift station & pumps
$250,000
Infiltration & Inflow analysis and city-wide improvements
$535,000
Chimney seals, manhole rehab, sewer televising, pipe lining, etc.
$5.16 million
Joint sewer improvements
•$300,000: Debt service estimate on joint sanitary sewer improvements with
Davenport.
29
Residential
Small Business
Median Value: $162,235
Median Value: $253,510
City’s Portion of
Property Tax
+$42.04
No Change
Sewer Fees
+$17.64
+$45.60
$2.08 per unit ($0.20 increase)
Storm Water Fees
$2.70 per ERU ($0.35 increase)
Solid Waste Fees
(22 units/quarter)
+$4.20
(57 units/quarter)
+$51.87
(1.00 ERU)
(12.35 ERU)
+$4.56
NA
Total Increase
+$68.44
+$97.47
Total Annual Cost of
Services
$1,411
$13.13 per month (3% increase)
(Based on 65 gal. Cart)
(+$5.79 per Month)
(+$8.12 per month)
$4,056
30
FY 12/13 Cost of City Services & Utilities for Typical $162,235 Residence
$2,500
2,333
Including City Property Taxes, Solid Waste Fees, Sewer Fees & Storm Water Fees for a sample
of 30 Iowa Cities with 2010 Census populations of 10,000 or More*
1,843
1,848
1,871
Muscatine
Waukee
Ankeny
2,045
1,971
1,826
Waterloo
Council Bluffs
1,790
Davenport
1,961
1,789
1,697
Burlington
Sioux City
1,685
1,628
Newton
1,654
1,599
Coralville
Cedar Falls
1,566
Ames
Storm Lake
1,458
Spencer
1,557
1,428
Johnston
1,506
1,422
Pella
Fort Madison
1,400
Altoona
1,504
1,390
Dubuque
West Des Moines
1,344
1,474
1,342
1,295
Clive
Bettendorf
1,290
$1,500
Urbandale
Property Tax
Cedar Rapids
Solid Waste
$2,000
1,935
Sewer
Iowa City
Storm Water
Ottumwa
Des Moines
Keokuk
North Liberty
$500
Carroll
$1,000
$0
*Assumptions: Bettendorf median home value of $162,235, 65 gallon or comparable garbage cart, sewer usage of 7.33 units per month (733 cu. ft.), and a Storm
Water ERU of 1.00. For cities using private solid waste collection, the cost above reflects rates provided by Waste Management of Iowa.
--Prepared by Bettendorf finance staff with FY 12/13 tax levies and service fees from city websites and billing departments as of 10/24/2012.
31
A budget that maintains the current levy rate at
$12.55. Despite this, homeowners will see a slight
increase in the City portion of their tax bills in FY
2013/14 due to the increase in the rollback.
Commercial property owners will not see a change
in the City portion of their tax bills unless their
assessed value has changed.
32
Quote from Moody’s Investors Service April
2012 –
“The assignment of the City’s Aa1 rating reflects the
city’s sound financial operations supported by solid
reserves and significant revenue flexibility.
City finances are expected to remain healthy due to the
existence of solid cash reserves, management’s
adherence to a formal General Fund balance policy, and
significant operating margin within the tax rate limit.
Financial operations have consistently remained sound
as the city’s General Fund has posted annual surpluses
over the past ten years.”
33
Questions
and
Answers
34