HomeMy WebLinkAboutC. 2015 Mayor's Budget Overview Presentation 08-11-142015
Budget Presentation
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Moving South Bend Forward
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"We know what we must do, and we
increasingly know how to do it. We
know how to come together and how to
tear down barriers. We know how to
focus on what matters most. We know
what it means to work extraordinarily
hard for a common purpose."
Mayor Pete Buttigieg
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Expanding our economy and creating jobs remains
a top priority.
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ECONOMIC SCORECARD
These are some of the recent job announcements
7 Elkhart RV supplier announced in
-- April it will lease warehouse at
Olive and Sample streets in South n
Bend. About 180 will work there
by end of this year with another
200 to be added by 2024.
South Bend company makes
Zi f L steel towers, announced plan
earlier this month to build new
plant on southwest side and
employ up to 639 people here.
The design of streets and corridors has a major
economic impact.
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It's been a year of progress on addressing the
challenge of vacant and abandoned houses.
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We take resident listening seriously
Three Key Elements of City Government
• Make Basics of Life Easy
• Offer Cost - Effective, Good Government
• Create an Environment Where Everyone
Can Thrive
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Incentives spur development —and help make
South Bend's economic progress possible.
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City government must be nimble, streamlined, and
strong to deliver on the expectations of residents.
We must continue to adjust to new economic
realities.
125%
120%
115%
110%
105%
100
95%
90%
85%
80%
Change in Gross AV for all Indiana Counties
Indexed to 2007
F
Statewide
/ eliminatio
\ n of the
inventory
tax in 2007
s`
Between 2007 and
2014. BPP GAV
al GAV increased by 18 %;
Real GAV
increased by 5%
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Between the 2008 -09 and
— — — — — —� 2011 -12 tax years, AV
growth stagnated due the
effects of the National
Recession.
The General reassessment in
2006 -07 captured growth in In the 6 year period between
market value from 1999 to 1999 and 2005, market values
2005 (a 6 -year time period). increased by 20%. In the 6 -year
period between 2007 and 2013;
market values increased by 0.6$
2006 2007 2008 2009
In the 2013
reassessment,
Assessed Values
decreased by 1.3%
statewide
2010 2011 2012 2013 2014
Pay Year
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The Circuit Breaker hurts local governments.
• The 25 cities with the highest circuit breaker tax impact
have losses ranging from 25% to 50% of their levy.
• These losses have been increasing each year and will
continue to grow over time.
Growth in assessed values simply do not keep
pace with growth in levies.
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Localized Issues
Differential Impacts of the Circuit Breaker Credit
on Municipalities Throughout the State
Elwood •
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• Beech Grove
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• Muncie
• South Bend
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Rural; Low Tax
High Concern
• Indianapolis•
Median CB Loss= 10%
Good Condition
Low < County Population (Log Scale) High
Population Population
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By the Numbers
• 2014 Amended Budget: $367,473,261
• 2015 Budget: $311,402,793
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City of South Bend - 2015 Proposed Expenditure Summary
13%
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9% 4% 42,106,
24% ■ General & Administrative
■ Public Safety
Economic Development
1 ■ Utilities
Neighborhoods
30% 20% Internal Service Funds
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City of South Bend Full -Time Employees
allIGI1 111I �0 iiiifi llIII :�[1I& .: CIS)
Fiscal Year
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2015 Budget Priorities
• Neighborhood Improvements
• Smart Streets
• Public Safety
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2015 Budget Priorities
• Vacant and Abandoned initiative
• Technology and Innovation
• South Bend 150
The city administration's success
depends largely on our ability
to fund, organize, retain,
and equip a successful
professional organization.
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Partnerships are Necessary
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"We're building a safe,
well- connected community
where everyone can thrive."
Mayor Pete Buttigieg
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We're moving forward-
accelerating comeback.
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fueled by our City's
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2015
Budget Presentation