ThisWeek CW 07/18/2013
Groveport City Council approved a 2014 tax budget July 8 that projects continued increases in real estate and income taxes but an overall drop in revenue compared to 2013 budget estimates.
The Ohio Revised Code requires a city tax budget to be filed by July 22 this year.
According to Groveport Finance Director Jeff Green, this initial filing is a framework for city officials to use in developing a more detailed appropriations bill.
“This is simply a tax budget, something we go through every year to fulfill statutory requirements with the county,” Green said. “The original purpose of the tax budget was to establish rates and limits of taxes the city can levy.”
Once the budget is filed with the county auditor, it can be amended by city council, as necessary, to reflect changes in revenue and expenditures. For cities, appropriations cannot exceed funding at the end of the fiscal year.
According to Groveport budget documents, the total estimated revenue for 2013 is $13,056,057, an increase of about $1.5 million over the 2012 budget’s actual revenue figures; the 2014 total estimated revenue is $12,481,365, which represents a decrease of about $600,000.
These differences appear to be primarily related to fluctuations in intergovernmental revenues, made up of taxes shared with the state, and other financing sources such as loans.
Total estimated budgeted expenditures, according to the budget document, amount to $11,664,646 for 2014; this reflects a decrease of about $1.4 million below the 2013 total estimated budget expenditures of $13,030,685.
The total fund estimated carryover for 2013 of about $1.5 million is nearly equal to the actual annual carryover for fiscal years 2011 and 2012. The total fund carryover is the total of all unencumbered funds as of Dec. 31 of the current year.
For 2014 however, the total fund carryover is anticipated to be closer to $2.3 million.
According to City Administrator Marsha Hall, when the detailed appropriations bill is completed, some of these carryover funds will be used to service short-term debt of $800,000 for the relocation of the Groveport Police Department.