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The City funds its OPEB obligation on a pay -as- you -go basis. For fiscal year 2008, the City
<br />contributed $18,671 to the plan. The City's fiscal year ended December 31, 2008 annual OPEB
<br />cost was $41,152, the percentage of the annual OPEB cost contributed to the plan of 45.4%
<br />and the net obligation of $22.481.
<br />As of January 31, 2008, the most recent actuarial valuation date, the City's unfunded actuarial
<br />accrued liability (UAAL) was $329,191. The annual payroll for active employees covered by the
<br />plan in the actuarial valuation was $4,859,980 for a ratio of UAAL to covered payroll of 6.8 %.
<br />General Fund Budget
<br />Adopted 2009 Adopted 2010
<br />Budget Budget
<br />Revenues:
<br />Property Taxes $ 8,130,172 $7,680,232
<br />Licenses and permits 491,050 396,250
<br />Intergovernmental 652,000 570,323
<br />Charges for services 11,500 10,950
<br />Public Safety 231,000 268,000
<br />Fines and forfeits 130,000 130,000
<br />Investment earnings 175,000 93,000
<br />Administrative Charges 65,000 60,000
<br />Miscellaneous 179,000 253,000
<br />Total General Fund Revenues $10.064,722 $9,461.755
<br />Expenditures:
<br />Administration $ 1,365,223 $1,263,540
<br />Community Development 1,049,435 971,395
<br />Public Safety 4,094,285 3,947,962
<br />Public Services 2,901,647 2,647,007
<br />Contingency /Other 654,132 631,851
<br />Total General Fund Expenditures $10,064 722 $9,461.755
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