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Operating Budget 2020-2024

Committee of the Whole


January 13, 2020

Presenting a balanced budget for 3 separate scenarios


Council’s Direction
Financial Policy Framework

Financial Sustainability
• Operating Budget Development*
• Tax Stability *
• Utility Rates and User Fees*
• Service Agreements & Operating Grants*
• Reserves*
• Debt*
• Permissive Tax Exemptions
Actual Tax Revenue
(in millions)
$35.0

$28.6 $28.6
$30.0

$23.7 $28.3 $28.4


$25.0
$26.3
$20.4

$20.0 $21.7
$19.6
$15.0

$10.0

$5.0

$-
2011 2012 2013 2014 2015 2016 2017 2018 2019
Expenses Historical Trends 2014 - 2019
Actual Expenses 2015-2019
2014 2015 2016 2017 2018 2019 Forecast Average
Salaries, Wages, Benefits 19,080,499 20,346,324 21,455,791 23,403,776 24,544,194 23,863,163 5.01%
Contracted and General Services 13,533,125 12,884,384 13,448,706 15,081,438 15,228,256 15,269,399 2.57%
Materials, Goods and Supplies 3,396,019 3,533,748 4,076,832 3,664,069 4,216,161 3,650,642 1.50%
Interest and Bank charges 2,187,789 2,183,156 2,249,128 2,143,173 1,506,028 1,535,594 (5.96%)
Utilities 2,128,640 2,002,509 2,159,869 2,250,167 2,074,226 2,021,807 (1.00%)
Other Expenses 1,931,073 2,137,927 1,592,328 1,488,420 1,739,128 2,596,145 6.89%
Principal on Long-Term Debt 2,059,227 2,261,904 2,441,555 2,114,235 2,019,279 2,100,936 0.41%
44,316,372 45,349,952 47,424,209 50,145,278 51,327,272 51,037,686 3.03%
2.33% 4.57% 5.74% 2.36% (0.56%)
* I adjusted for the 2018 payroll accrual not recorded
Percentage Growth
2015 2016 2017 2018 2019
Salaries, Wages, Benefits 6.63% 5.45% 9.08% 4.87% (2.77%)
Contracted and General Services (4.79%) 4.38% 12.14% 0.97% 0.27%
Materials, Goods and Supplies 4.06% 15.37% (10.12%) 15.07% (13.41%)
Interest and Bank charges (0.21%) 3.02% (4.71%) (29.73%) 1.96%
Utilities (5.93%) 7.86% 4.18% (7.82%) (2.53%)
Other Expenses 10.71% (25.52%) (6.53%) 16.84% 49.28%
Principal on Long-Term Debt 9.84% 7.94% (13.41%) (4.49%) 4.04%
Major Factors on the Operating Budget
Employer Health Tax ($351k unfav)
Employers Health Tax ($545k unfav)
BC Medical ($194k fav)

Staffing Formula (FTE) Increases ($388k unfav)


Salary Grid and Collective Agreement ($191k unfav)
$1,041 or 3.6%
increase in tax rate
Assessment Values ($111k unfav)
Commercial Businesses ($ 69k unfav)
Major Industry ($ 42k unfav)

Fire Service Agreement Revenues ($142k or $285k unfav) 0.5% to 1.0% tax rate
Inflation 2.6% on all other discretionary spending ($919k unfav ) Up to 3.0% “
Fire Service Agreements
Regional $ 699,025 2 more years expires December 31, 2021

Atco $ 586,000 3 more years expires December 31, 2022

AFDE $ 80,000 4 more years expires September 25, 2023


$1,365,025

Tax Rate scenario 2 = ($142,573) reduction


Tax Rate scenario 3 = ($285,147) reduction; only 20.9% of fire service agreements

Traffic Fines $310,000 but this is relatively stable


Property Taxes for 2020, Tax Rates the Same,
Revised Assessments
Budget based on January 2020 Assessment Effect of a 1% Increase in Taxes
Tax 2019 November
2020 January Rates Preliminary BC Tax
CLASS BC Assessment RATIO 2019 2020 Levy Assessment Rates 2019 LEVY

1-Residential 2,471,055,800 1.0000 4.8608 12,011,308 2,471,055,800 4.9094 12,131,421


2-Utilities 4,713,500 9.0000 40.0000 188,540 4,713,500 40.0000 188,540
4-Major Industries 28,751,000 5.5493 26.9740 775,531 28,751,000 27.2438 783,286
5-Light Industries 20,277,300 5.0693 24.6409 499,650 20,277,300 24.8873 504,646
6-Business/Other 1,109,943,603 2.8135 13.6759 15,179,434 1,109,943,603 13.8126 15,331,229
8-Recreation/Non Profit 4,735,400 2.1077 10.2451 48,515 4,735,400 10.3476 49,000
9-Farm 170,576 0.3000 1.4582 249 170,576 1.4546 248
BC Assessment 3,639,647,179 $ 28,703,226 3,639,647,179 $28,988,370
Decrease in Revenue $ (10,900) Effect of a 1% tax rate incr. $ 285,144
How Did We Balance the Budget ?
Part 1:
Injecting more Accountability into the process:
• Comparing 2020 Budget to prior year trends and to current year forecast
• Comparing 2020 Budget to 2019 Budget
• A very “clean” budget
• Significant reduction in Overtime (Fire Services)
• Found a vacant 0.75 of an FTE (Fire Services) to fund a 5th FTE
• Community Services Contracted Services reduction
2017 2018 2019 2019 2020 2020 Budget 2020 Budget
Actual Actual Forecast Budget Budget vs. 2019 Forecast vs. 2019 Budget
Variance Explanations
(a.) 2020 Budget vs. 2019 Forecast

(b.) 2020 Budget vs. 2019 Budget


Operating Budget Development Budget vs 2019 Forecast 2020 vs 2019 Budgets
2019 Year-to- 2019 2019 2020 Variance Percentage Variance Percentage
Information Technology 2017 2018 Date Forecast Budget Budget Fav/(Unfav) Variance Fav/(Unfav) Variance
Expenses
1 - Salaries, w ages and em ployee benefits 496,137 402,506 387,084 451,392 468,686 460,651 (9,259) (2.05%) (9,107) (1.94%)
20-110 - Administration & Overhead 159,219 72,683 100,698 117,428 117,017 119,928 (2,500) (2.13%) (2,911) (2.49%)
20-120 - Personnel 245,844 249,421 203,512 237,323 242,762 247,616 (10,293) (4.34%) (4,854) (2.00%)
20-135 - Overtime 11,156 4,922 6,538 7,624 21,318 8,532 (908) (11.91%) (426) (2.00%)
20-160 - Receiver General Contributions 13,994 15,677 15,286 17,826 15,816 15,812 2,014 11.30% 4 0.03%
20-161 - Pension Contributions 34,424 28,264 30,436 35,493 35,927 36,742 (1,249) (3.52%) (777) (2.16%)
20-162 - Extended Health Contributions 4,145 4,324 5,107 5,956 6,248 5,437 519 8.71% (2) (0.03%)
20-163 - Dental Contributions 4,238 4,275 5,556 6,479 6,383 6,319 160 2.47% 1 0.02%
20-164 - BC Medical 4,406 2,400 2,363 2,755 3,600 - 2,755 100.00% - -
20-165 - Life & Disability Contributions 13,769 10,071 12,016 14,012 13,941 14,097 (85) (0.60%) (88) (0.63%)
20-169 - WCB 4,942 5,382 5,231 6,100 5,674 6,168 (68) (1.11%) (54) (0.95%)
20-199 - Other Payroll Expenses - 5,086 340 396 - - 396 100.00% - -
2 - Contracted and general services 743,794 771,487 926,746 1,080,710 1,012,770 1,055,924 24,786 2.29% (42,004) (4.15%)
20-213 - Telephone 2,583 3,156 1,703 1,985 3,000 2,850 (865) (43.55%) 1,300 43.33%
20-230 - Professional Services - 552 41,430 48,313 40,000 55,000 (6,687) (13.84%) (15,000) (37.50%)
20-234 - Memberships & Professional Development 11,502 10,796 12,937 15,086 24,350 19,850 (4,764) (31.58%) 4,500 18.48%

20-244 - Contracts Annual Licensing - - 650,658 758,754 629,000 661,704 97,050 12.79% (32,704) (5.20%)
20-246 - Contract - Other 489,689 505,706 - - - - 0 0.00% - -
20-247 - Contract - Internet 240,020 251,277 220,018 256,571 316,420 316,520 (59,949) (23.37%) (100) (0.03%)
3 - Material, goods and supplies 64,233 72,041 46,150 53,817 49,204 44,214 9,603 17.84% 5,012 10.19%
20-500 - Materials - Print Supplies - - 4,666 5,441 5,000 6,000 (559) (10.27%) (1,000) (20.00%)
20-530 - Office Supplies 10,084 37,339 1,642 1,915 12,000 3,000 (1,085) (56.68%) 9,000 75.00%
20-534 - Materials - - 3,361 3,919 3,000 3,500 419 10.69% (500) (16.67%)
20-536 - Replacement Equipment 35,172 24,150 28,284 32,982 20,000 25,000 7,982 24.20% (5,000) (25.00%)
20-875 - Equipment Distribution (Finance) 18,977 10,552 8,198 9,560 9,204 6,714 2,846 29.77% 2,512 27.29%
Total Expenses 1,304,164 1,246,034 1,359,980 1,585,919 1,530,660 1,560,789 25,130 1.58% (46,099) (3.01%)
How Did We Balance the Budget, cont…?
Part 2:
Decrease in Overtime (primarily in Fire Services) $ 513k
Recognizing Annual Staff Vacancies , 1% of HR costs $ 242k
Increase in Tax rate 0.75% to partially cover Staffing increases $ 214k
Savings in Snow Removal, Grass Cutting Contracted Services $ 150k

Increase in Tax rates for transitioning service agreement revenue


1.25% $143k
or 1.75% $ 285k
Moderate increases in Utility Rates and User Fees, trend adjustments $1,262k

(Overall future effect: Reduction in the Operating Surplus)


2020 Budget Compared to 2019 Forecast and 2019 Budget
(includes a 0.75% tax rate increase to offset
staffing FTE increases) 2020 Budget
2020 Budget vs Percentage vs 2019 Percentage
2019 Forecast 2019 Budget 2020 Budget 2019 Forecast Variance Budget Variance

Revenues:
1 - Taxes 31,644,307 31,789,437 31,922,234 277,927 0.88% 132,797 0.42%
2 - Collection for other Governments 18,169,095 18,169,100 18,269,100 100,005 0.55% 100,000 0.55%
2 -Grants in Lieu of Taxes 456,738 381,540 450,000 (6,738) (1.48%) 68,460 17.94%
3 - Services Provided to Other Governments 445,449 537,802 536,771 91,322 20.50% (1,031) (0.19%)
4 - Sale of Services 12,075,622 11,519,500 11,693,500 (382,122) (3.16%) 174,000 1.51%
5 - Other Revenue from ow n Sources 7,382,491 7,569,120 7,608,825 226,334 3.07% 39,705 0.52%
6 - Government transfers 30,954,784 30,019,792 29,215,339 (1,739,445) (5.62%) (804,453) (2.68%)
7 - Return on investment 3,034,463 2,094,817 2,678,557 (355,906) (11.73%) 583,740 27.87%
8 - Transfers In 1,614,878 1,614,878 1,451,638 (163,240) (10.11%) (163,240) (10.11%)
Total Revenues 105,777,827 103,695,986 103,825,964 (1,951,863) (1.85%) 129,978 0.13%

Expenses:
1 - Salaries, w ages and employee benefits 24,676,376 24,529,911 24,560,306 116,070 0.47% (30,395) (0.12%)
2 - Contracted and general services 15,269,399 15,813,299 15,913,616 (644,217) (4.22%) (100,317) (0.63%)
3 - Material, goods and supplies 3,650,642 4,089,342 3,892,235 (241,593) (6.62%) 197,107 4.82%
4 - Interest and Bank Charges 1,535,594 1,429,302 1,382,702 152,892 9.96% 46,600 3.26%
5 - Utilities 2,021,807 2,032,200 2,008,250 13,557 0.67% 23,950 1.18%
6 - Other Expenses 2,596,145 1,983,257 2,563,119 33,026 1.27% (579,862) (29.24%)
7 - Principal on Long Term Debt & Actuarial Adjustments 2,100,936 2,097,054 2,054,966 45,970 2.19% 42,088 2.01%
8 - Other tax requisitions 18,169,095 18,169,100 18,269,100 (100,005) (0.55%) (100,000) (0.55%)
9 - Transfers Out 33,552,521 33,552,521 33,181,670 370,851 1.11% 370,851 1.11%
Total Expenses 103,572,516 103,695,986 103,825,964 (253,448) (0.24%) (129,978) (0.13%)

Surplus (Deficit) 2,205,311 0 0 (2,205,311) (100.00%) 0


C5: Studies, Plans, Projects 2020
Economic Development Strategy 365,000
Health & Safety Master Plan 350,000
Neighbourhood Plan Areas: Urban Development 220,000
Northeast Resource Municipalities Coalition 210,000 Not Capitalized; These are
Facilities Audit 200,000 operating expenditures.
Arts, Culture and Heritage Plan 175,000
Tourism Master Plan 175,000
Community Development Institute 160,000
Public Art Policy 150,000
Winter Cities Program 150,000
100% financed by the PRA
Downtown Action Plan Implementation 145,000
Urban Tree Inventory 100,000
Capital Asset Management Plans 100,000
Community Foundation 75,000
Affordable Housing 75,000
Health and Safety Program 70,000
Fire Department Strategic Plan (Master Plan) 65,000
Urban Reserves and Treaty Land Entitlement 50,000
Lands: acquisition and disposal 40,000
100th Street Rights-of-Way Segments 40,000
RCMP Cold Case Project 36,000
Knox Box Program 30,000
Develop Food Security Plan 25,000
3,006,000
C5: Studies, Plans, Projects 2020 2021 2022 2023 2024
Economic Development Strategy 365,000 223,000 226,000
Health & Safety Master Plan 350,000
Neighbourhood Plan Areas: Urban Development 220,000
Northeast Resource Municipalities Coalition 210,000 210,000 210,000
Facilities Audit 200,000
Arts, Culture and Heritage Plan 175,000 75,000
Tourism Master Plan 175,000
Community Development Institute 160,000 35,000
Public Art Policy 150,000 25,000
Winter Cities Program 150,000 100,000 100,000 50,000 25,000
Downtown Action Plan Implementation 145,000 90,000
Urban Tree Inventory 100,000
Capital Asset Management Plans 100,000
Community Foundation 75,000
Affordable Housing 75,000
Health and Safety Program 70,000
Fire Department Strategic Plan (Master Plan) 65,000
Urban Reserves and Treaty Land Entitlement 50,000
Lands: acquisition and disposal 40,000 40,000
100th Street Rights-of-Way Segments 40,000 40,000 40,000
RCMP Cold Case Project 36,000
Knox Box Program 30,000
Develop Food Security Plan 25,000 50,000 100,000 50,000 25,000
Total to be Spent on Roads = $4,720,000 3,006,000 813,000 751,000 100,000 50,000
Assessment Analysis Increase of # of Units
Units 2014 2015 2016 2017 2018 2019 2020 2020 vs. 2019 2019 vs. 2014
Residential 6,783 7,001 7,365 7,759 7,833 7,921 7,920 (1) 1,137
Utilities 31 32 32 31 31 30 29 (1) (2)
Major Industry 3 3 3 3 3 3 3 0 0
Light Industry 17 18 16 16 21 21 25 4 8 Notable:
Commercial 1,173 1,176 1,217 1,270 1,272 1,292 1,268 (24) 95
Non-Profit 30 32 33 34 35 36 37 1 7
Farm - 2 5 8 7 7 8 1 8
8,037 8,264 8,671
4.92%
9,121
5.19%
9,202
0.89%
9,310
1.17%
9,290
(0.21%)
(20)
(0.22%)
1,253
15.59%
Residential Average
Assessment Values
Residential $
2014
2,127,396,600
2015 2016 2017
$ 2,443,858,500 $ 2,689,563,500 $ 2,706,641,100
2018 2019 2020 (January)
$ 2,518,030,840 $ 2,476,752,400 $ 2,471,055,800
2020 vs. 2019
(0.23%)
2020 vs. 2016
(8.12%)
Assessed Values at
Utilities
Major Industry
$
$
2,670,605
36,524,100
$
$
2,884,470 $
34,366,100 $
3,329,580 $
34,448,100 $
3,386,690
33,041,100
$
$
3,527,555 $
31,247,000 $
3,916,140 $
30,275,000 $
4,713,500
28,751,000
20.36%
(5.03%)
41.56%
(16.54%)
2014 level
Light Industry $ 13,602,300 $ 17,313,900 $ 17,253,600 $ 15,958,300 $ 17,682,800 $ 18,486,200 $ 20,277,300 9.69% 17.53%
Commercial $ 768,426,550 $ 913,330,550 $ 1,071,648,195 $ 1,072,169,730 $ 1,107,919,900 $ 1,111,602,153 $ 1,109,943,603 (0.15%) 3.57%
Non-Profit $ 3,536,200 $ 2,383,600 $ 4,648,800 $ 3,112,000 $ 3,237,700 $ 4,294,500 $ 4,735,400 10.27% 1.86%
Farm $
$
-
2,952,156,355
$ 46,951 $ 113,495 $ 159,686
$ 3,414,184,071 $ 3,821,005,270 $ 3,834,468,606
$ 146,860 $ 148,671 $ 170,576
$ 3,681,792,655 $ 3,645,475,064 $ 3,639,647,179
14.73%
(0.16%)
50.29%
(4.75%)
Major Industrial
11.92% 0.35% (3.98%) (0.99%) (0.16%)
Average Assessed
Average Property Values 2014 2015 2016 2017 2018 2019 2020 2019 vs. 2018 2020 vs. 2016
Residential (from Prov of BC) $
Utilities $
313,637
86,149
$
$
349,073
90,140
$
$
365,182
104,049
$
$
348,839
109,248
$
$
321,464
113,792
$
$
312,682
130,538
$
$
312,002
162,534
(2.73%)
14.72%
(14.56%)
56.21%
Values 16.5% below
Major Industry
Light Industry
$
$
12,174,700
800,135
$
$
11,455,367
961,883
$
$
11,482,700
1,078,350
$
$
11,013,700
997,394
$
$
10,415,667
842,038
$
$
10,091,667
880,295
$
$
9,583,667
811,092
(3.11%)
4.54%
(16.54%)
(24.78%) 2014 level and
Commercial $ 655,095 $ 776,642 $ 880,565 $ 844,228 $ 871,006 $ 860,373 $ 875,350 (1.22%) (0.59%)
Non-Profit
Farm
$ 117,873 $
$
74,488
23,476
$
$
140,873
22,699
$
$
91,529
19,961
$
$
92,506
20,980
$
$
119,292
21,239
$
$
127,984
21,322
28.96%
1.23%
(9.15%)
(6.07%)
continuing to
$ 14,147,589 $ 13,731,069
(2.94%)
$ 14,074,418
2.50%
$ 13,424,899
(4.61%)
$ 12,677,453
(5.57%)
$ 12,416,086
(2.06%)
$ 11,893,951
(4.21%)
(5.57%) (15.49%)
decrease
Avg Residential Tax Revenue 2014 2015 2016 2017 2018 2019 2020 2020 vs. 2019 2020 vs. 2016
Residential $ 1,686 $ 1,747 $ 1,780 $ 1,703 $ 1,646 $ 1,520 $ 1,517 ($3) ($263)
Residential Tax Rates 5.1888 4.9608 4.7577 4.7577 4.8608 4.8608 4.8608 0.00% 2.17%
Heavy Industry - Louisiana Pacific OSB
2014 2015 2016 2017 2018 2019 2020 2020 vs. 2019 2020 vs. 2014
Major Industrial Assessment *$ 35,064,100 $ 34,366,100 $ 33,915,100 $ 33,041,100 $ 31,247,000 $ 30,275,000 $ 28,751,000 ($1,524,000) ($6,313,100)
Municipal Tax Revenue $ 1,009,636 $ 946,068 $ 895,430 $ 872,354 $ 842,853 $ 816,635 $ 775,527 ($41,108) ($234,109)
Major Industry Tax Rates 28.794 27.5291 26.4021 26.4021 26.9739 26.9739 26.9739 0.00% (6.32%)
Administration puts a great deal of thought, discussion and prioritization before
increasing staff levels. Staffing strain is felt in all departments:

Adusted Final Ranking of 2020 Position Request Process


Position Request FTE Request Score Ranking Comments
IT Systems Administrator 1.00 7.36 1 Approved - Formula increase
Equipment Operator I - PW 1.00 7.00 2 Approved - Formula increase
Health & Safety Advisor 1.00 6.98 3 Approved - Formula increase
RCMP Court Unit Clerk 1.00 6.58 4 Approved - Formula increase
Capital Asset Analyst/Procurement officer 1.00 6.11 5 Approved - Operational Funds
Bylaw Services Manager 1.00 5.61 6
RCMP Front Counter Clerk PT - increase to FT 0.33 5.61 7
Equipment Operator I (Parks & Grounds) 1.00 5.45 8 Approved - Operational Funds
Equipment Operator I (Parks & Grounds) 1.00 5.21 9
Facilities Allocation Clerk Part Time 0.50 5.09 10
RCMP Systems Clerk (Records/Reader) 1.00 4.55 11
Recreation Attendant - Auxiliary on call 0.33 4.31 12
RCMP Front Counter Clerk - Auxiliary on call 0.25 4.15 13
Recreation Instructor (Increase 0.25) 0.25 3.83 14
2020
2019 FTE RECONCILIATION WITH 2020 STAFFING REQUESTS
2019
2020 Proposed
Profile Final Notes on 2019 Reconciliation 2020 Budget
Additions
Budget
A - Exempt Management 34.00 1.00 Health & Safety Advisor - NEW 2020 36.00
1.00 Capital Asset Analyst/Procurement - NEW 2020
B - BCGEU Full Time 133.00 1.00 IT Systems Administrator - NEW 2020 139.00
1.00 Equipment Operator 1 - Roads - NEW 2020
1.00 RCMP Court Unit Clerk - NEW 2020
1.00 Equipment Operator 1 - Grounds (Funded with Contract Budget Transfer)
1.00 Equipment Operator 1 - Grounds (2019 Council approved - 100th & 100th)
1.00 Recreation Programmer (Increase from PT - Pool Commission Approved)
C - BCGEU Part Time 9.22 (0.37) Various NPLP Positions FTE reclassified 8.85
D - IAFF Full Time 27.00 0.00 27.00
E - Council 7.00 0.00 7.00
F - BCGEU Auxiliary 11.72 (2.40) Various NPLP / Facilities FTE reconfigured 9.32
G - Fire Auxiliary 0.98 (0.68) Paid On Call Aux FF FTE reduced to actual 0.30
H - BCGEU Auxiliary Term 8.61 1.20 Various NPLP Positions FTE reconfigured 9.81
I - Out of Scope 1.00 1.00
Total FTE 232.53 5.75 238.28
FTE's - 173.48 181.88 186.71 189.03 189.50 194.85 5.35 21.37
FTE Growth 4.84% 2.66% 1.24% 0.25% 2.82% 2.87% 12.32%
Excluding NPLP & Utilities "Just to get caught up" Boundary Extension, Parks, Trails, Programs, Events, etc.
Division 2015 2016 2017 2018 2019 2020 2020 vs. 2019 2020 vs. 2015
Environmental Development 7.80 10.50 12.76 13.00 13.00 12.46 (4.15%) 59.74%
General Government Services 30.83 35.01 35.65 36.01 36.01 38.60 7.19% 25.20%
Protective Services 57.44 58.22 61.41 61.51 61.51 61.92 0.67% 7.80%
Public Health and Welfare 1.22 1.22 1.45 1.60 1.60 1.24 (22.50%) 1.64%
Recreation and Culture 46.19 48.36 46.21 47.31 47.78 49.95 4.54% 8.14%
Transportation Services 30.00 28.57 29.23 29.60 29.60 30.68 3.65% 2.27%
Total 173.48 181.88 186.71 189.03 189.50 194.85 2.82% 12.32%

Division 2015 2016 2017 2018 2019 2020 2020 vs. 2019 2020 vs. 2015
NPLP 23.09 25.41 25.46 24.71 24.71 25.62 3.68% 10.96%
Sewer Utilities 5.56 5.65 5.38 6.38 6.38 6.81 6.74% 22.48%
Water Utilities 10.40 10.98 10.54 11.94 11.94 11.00 (7.87%) 5.77%
Total 39.05 42.04 41.38 43.03 43.03 43.43 0.93% 11.22%

Total FTEs 212.53 223.92 228.09 232.06 232.53 238.28 2.47% 12.12%
2020 Tax Rate Analysis
Increasing the Tax Rate by: Tax Revenue Residence Commercial
Option 1: 0.75% $213,860 $ 18.34 $ 51.44
Satisfies Staffing, Budget, Reserves, Utility/User fees and Tax Stability policies

Option 2: 1.25% $356,434 $ 30.56 $ 85.74


Satisfies all the above plus a moderate service agreement revenue transition to capital

Option 3: 1.75% $499,007 $ 42.78 $120.04


Satisfies all the above plus meets service agreement revenue transition objectives
Questions / Comments

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