Details for RACINE CITY CLERK - Ad from 2021-10-10

NOTICE OF PUBLIC HEARING 2022 CITY OF RACINE BUDGET Notice is hereby given, pursuant to Wisconsin Statutes section 65.90, that a Public Hearing will be held by the Common Council of the City of Racine on the proposed City of Racine 2022 budget at 6:30 p.m., Tuesday, October 26, 2021. The meeting will be held virtually and broadcasted via Facebook Live on the City of Racine’s Facebook page at http://www.facebook.com/CityOfRacineWI/. Any resident or taxpayer of the City of Racine shall have an opportunity to be heard on the proposed budget. If you would like to speak during the Public Hearing please contact the Clerk’s Office at clerks@cityofracine.org to receive instruction on how to access the virtual meeting. Include the address of your residence or the address on which you pay taxes. The proposed budget for 2022, in detail, is now available for public inspection on the City’s website: www.cityofracine.org BUDGET SUMMARY - GENERAL FUND 2021 2021 2021 2022 2020 As of 12/31/2021 Adopted Proposed Actual 7/31/21 Estimated Budget Budget $32,531,717 $33,717,000 $33,717,000 $33,717,000 $33,946,450 476,959 431,696 405,000 350,000 400,000 35,574,900 11,254,325 33,442,071 33,442,071 33,368,994 2,482,038 1,414,771 2,083,435 2,303,435 2,030,380 972,086 701,390 1,122,000 1,122,000 1,122,000 3,822,434 3,035,712 4,127,830 4,233,280 4,446,080 REVENUES: Property Taxes Other Taxes Intergovernmental Revenues Licenses and Permits Fines and Forfeitures Charges for Services Intergovernmental Charges for Services 2,033,100 962,100 1,908,003 1,895,003 1,920,027 Miscellaneous Revenues 1,325,758 617,613 718,394 644,144 649,550 Other Financing Sources 4,922,463 1,103,541 6,029,710 5,538,474 4,430,784 Assigned Fund Balance Applied 750,000 2,429,740 Unassigned Fund Balance Applied 250,000 Total Revenues: $84,141,455 $53,238,148 $83,553,443 $84,245,407 $84,744,005 EXPENDITURES: General Government Health Public Safety Public Works Education and Recreation Community Development Total Expenditures: Percent Change from 2021 Adopted Budget 0.68% 14.29% -0.22% -11.85% 0.00% 5.03% 1.32% 0.84% -20.00% 223.97% -100.00% 0.59% $13,810,092 $8,969,414 $15,443,242 $15,568,503 $15,383,783 2,382,149 1,082,708 2,469,340 2,449,330 2,745,777 47,402,863 26,307,720 46,775,398 46,477,431 46,414,538 9,644,830 6,078,590 9,893,498 10,019,314 10,406,930 6,113,217 3,761,930 6,475,553 6,399,590 7,029,683 2,838,119 1,431,650 2,537,152 3,331,239 2,763,294 $82,191,270 $47,632,012 $83,594,183 $84,245,407 $84,744,005 -1.19% 12.10% -0.14% 3.87% 9.85% -17.05% 0.59% 2022 Budget/Fund Balance Summary -- All Governmental Funds General Fund Special Revenue Capital Projects Debt Service Estimated Fund Fund Balance Budgeted Balance Budgeted Tax Applied Expenditures 1/1/2022 Revenues Levy $36,057,793 $48,367,815 $33,946,450 $2,429,740 $84,744,005 796,844 8,552,642 2,865,444 125,000 11,543,086 19,109,523 17,087,420 17,087,420 352,563 830,069 18,600,000 51,971 19,482,040 $56,316,723 $74,837,946 $55,411,894 $2,606,711 $132,856,551 Excess Revenue over (under) Expenditures $(2,429,740) (125,000) (51,971) $(2,606,711) Estimated Fund Balance 12/31/2022 $33,628,053 671,844 19,109,523 300,592 $53,710,012 2022 Budget/Net Assets Summary -- Proprietary Funds Estimated Excess Estimated Fund Fund Revenue Fund Balance Budgeted Tax Balance Budgeted over (under) Balance 1/1/2022 Revenues Levy Applied Expenditures Expenditures 12/31/2022 City Enterprise $46,645,094 $18,380,184 $1,081,000 $79,364 $19,540,548 (79,364) $46,565,730 City Utilities 175,277,238 38,952,586 34,436,911 4,515,675 179,792,913 Internal Service 10,747,483 30,738,028 314,410 31,052,438 (314,410) 10,433,073 $232,669,815 $88,070,798 $1,081,000 $393,774 $85,029,897 $4,121,901 $236,836,642 The City’s property taxes are summarized as follows: General Fund Special Revenue Funds Debt Service Funds Enterprise Funds Total 2021 $33,717,000 2,879,692 19,500,000 1,078,000 $57,174,692 2022 $33,946,450 2,865,444 18,600,000 1,081,000 $56,492,894 Percent change increase/(decrease) 0.68% -0.49% -4.62% 0.28% -1.19% The projected City indebtedness (excluding the City Utilities) is $100,525,000 as of 12/31/21.