estimated revenue due to the reclassification of homestead and roll back revenue which resulted in a decrease in the taxes category and an equal increase in the intergovernmental category.
Percent Change in Estimated Revenue Revenue Object Taxes Intergovernmental Fines and Forfeitures Fees Sales Donations Interest Income All Other Revenue Total
$ $ $ $ $ $ $ $ $
2016 16,125,000 890,268 2,000 350,647 10,000 500 100,000 175,000 17,653,415
$ $ $ $ $ $ $ $ $
2017 Percent Change 14,283,669 -11.42% 2,494,912 180.24% 2,000 0.00% 353,893 0.93% 9,520 -4.80% 500 0.00% 100,000 0.00% 175,833 0.48% 17,420,327 -1.32%
The 2017 general operating fund financial forecast is consistent with the objective of maintaining a fund balance equal to one half year’s operating expense. Planning for operations, capital projects, programming support and land acquisition has all been completed with this objective in mind. The following table indicates the portion of general operating expense represented by the projected fund balance for each year through the year 2025.
2024 2025 2019 2020 2021 2022 2023 2017 2018 Projected Projected Projected Projected Projected Budget Projected Projected Projected Total Operating Expenditures 14,121,709 14,006,339 14,432,264 14,873,508 15,330,659 15,804,328 16,217,171 16,642,364 17,080,306 End of Year Fund Balance 8,766,945 9,416,329 9,842,660 10,098,720 9,771,159 9,196,658 8,688,685 8,738,193 8,585,158 50% 68% 68% 64% 58% 54% 53% Fund balance as percent of Expenditures 62% 67%
As part of this budget process, staff has also assembled several best practices to provide additional perspective. Firstly, an industry benchmark is that no more than 65% of the overall budget should be represented by salaries and benefits. Metroparks is currently well below this mark due to the significant portion of revenue that is currently directed at park development. As the shift from development to operation of new parks occurs the percent of salaries to overall budget will increase. The 2017 salary and fringe benefits budget is 56% of operating expenses and transfers: % of Overall Budget for Salaries & Benefits Salaries (Funds 100 and 204) Fringe Benefits (Funds 100 and 204) Total
2017 Budget $ 7,162,400 $ 2,431,570 $ 9,593,970
Total 2017 Expenditures and Transfers % of salaries/benefits to overall budget
$ 17,021,709 56%
A large portion of the comprehensive plan focuses on the creation of new parks and the completion of projects, understanding our capital budget is important. A capital budget that represents 4-6% of the agencies’ asset portfolio value (not including land) is considered another best practice. The portion of Capital Outlay category appropriations attributed to capital development is four percent.
2017 Metroparks Toledo Budget
Page 13