Vestavia Hills, City of, AL

Transcription

1 Vestavia Hills, City of, AL 1 City of Vestavia Hills, Alabama, General Obligation Warrants, Series 2016, $11,810,000, Dated: July 14, City of Vestavia Hills, Alabama, General Obligation Warrants, Series 2015, $9,205,000, Dated: September 17, City of Vestavia Hills, Alabama, General Obligation Warrants, Series 2014, $9,605,000, Dated: January 30, City of Vestavia Hills, Alabama, General Obligation Warrants, Series 2013-A, $10,000,000, Dated: December 30, City of Vestavia Hills, Alabama, General Obligation Warrants (Federally-Taxable - Qualified Energy Conservation Bonds - Direct Pay), Series 2013, $4,245,000, Dated: May 15, City of Vestavia Hills, Alabama, General Obligation Warrants, Series 2012, $11,000,000, Dated: June 1, City of Vestavia Hills, Alabama, General Obligation Warrants, Series 2009-A, $10,940,000, Dated: December 29, City of Vestavia Hills, Alabama, Taxable General Obligation Warrants (Direct-Pay Build America Bonds), Series 2009-B, $6,070,000, Dated: December 29, City of Vestavia Hills, Alabama, General Obligation Warrants, Series 2008, $9,615,000, Dated: November 1, 2008 Members of City Council and Officers of the City Name and Office Occupation End of Current Term Alberto C. Zaragoza, Jr. Mayor/President Retired 11/7/2016 Steven B. Ammons President ProTem Business Owner 11/7/2016 James C. Sharp Council Member Business Owner 11/7/2016 John D. Henley Council Member Business Owner 11/7/2016 George B. Pierce Council Member Director of Education 11/7/2016 Governmental Services Provided by the City of Vestavia Hills and Others City County State Independent Agency Fire protection Solid waste disposal Storm water sewers Police protection Shared Shared Street maintenance and repair Shared Shared Recreation Shared Sanitary Sewers Courts Shared Shared Road Construction Shared Health Public Transportation Shared Shared Aviation Water Service Education Shared Social Welfare Shared Shared City Labor Relations Vestavia Hills is under the Personnel Board of Jefferson County for all classified employees.

2 City Financial System Series 2016, 2015, 2014, 2013A, 2013, 2012, 2009A,B, 2008 City of Vestavia Hills, Alabama - Combined Statement of Revenues, Expenditures and Changes in General Fund Balance September 30, Revenues 2016 Taxes 27,645,092 Licenses and Permits 4,228,918 Intergovernmental 0 Charges for Services 362,092 Fines and Forfeitures 410,475 Fees 2,774,763 Grants 547,717 Sale of Assets 42,483 Investment Revenues 99,568 Library Revenues 0 Other Revenues 664,333 Total Revenues 36,775,441 Expenditures Current (operating): General Government Administration 5,988,377 Public Safety 16,415,405 Public Works 6,957,917 Library 1,643,715 Parks and recreation Debt Service Capital Outlay 206,850 Total Expenditures 31,212,264 Excess of revenues over (under) expenditures 5,563,177 Other financing sources (uses) Received by the City for Debt Repayment Donations Operating Transfers in Operating Transfers out (5,119,307) Other financing sources - proceeds of capital lease Total other financing sources (uses) (5,119,307) Excess of revenues and other sources over (under) expenditures and other uses 443,870 Fund balance, beginning of year 13,017,649 Fund balance, end of year 13,461,519 Ad Valorem Tax Revenue September 30 Ad Valorem Taxes ,528,727 Sales and Use Tax Revenue September 30 Sales and Use Taxes ,058,992

3 License and Permit Revenues September 30 Business Licenses Permits ,893,999 1,447,942 Ad Valorem Tax Rates Jefferson County Shelby County State of Alabama Jefferson and Shelby Counties County Tax: General Fund (no limit as to time) Road Fund (no limit as to time) Road Fund (shared with City) Building and Bridge Fund (no limit as to time) 5.1 Sewer Fund (no limit as to time) 0.7 Total County Schools: General School Fund General School Fund General School Fund Total (shared with City schools based on average daily attendance) Special Schools Total Jefferson and Shelby Counties City of Vestavia Hills Municipal Tax: General Municipal Purposes (no limit as to time) Total Special School Taxes: Public school uses (School District Levy) (Voted to September 30, 2017) Total Total City of Vestavia Hills Ten Largest Ad Valorem Taxpayers Name Assessed Value Municipal Taxes 1 Urban Center Office, LLC $13,260,120 $653,724 2 Liberty Park Joint Venture $8,357,680 $412,034 3 Alabama Power Company $8,333,120 $396,165 4 Excel Vestavia, LLC $5,650,780 $278,583 5 Mountain Brook Multifamily Partners, LLC $5,583,040 $275,244 6 Vestavia Hills, Ltd. $4,436,720 $218,730 7 GFTV Vestavia Owners, LLC $4,164,780 $205,324 8 CMF 15 Portfolio, LLC $4,035,320 $198,941 9 LTF Real Estate Company, Inc. $3,868,140 $190, Bellsouth Telecommunications, LLC $3,519,800 $173,526

4 City of Vestavia Hills, Alabama - Assessed Value and Estimated Market Value of Taxable Property Class I Property of Utilities Class II All Unclassified Real and Personal Property Class III Agricultural, Forest, Residential, Historic Property Class IV Motor Vehicles Value Estimated Tax Year Ending September 30 Assessed Value Estimated Market Value Assessed Value Estimated Market Value Assessed Value Estimated Market Value Assessed Market Value Total Assessed Value Total Estimated Value ,485, ,631, ,148,020 77,919, ,184,530 Computation of Constitutional Debt Margin Net assessed value of taxable property, including motor vehicles, after exemptions as of September 30, ,184,530 Debt limit (20% of net assessed value) 142,836,906 Outstanding general obligation debt 72,340,324 Total debt chargeable against limit 72,340,324 Constitutional debt margin 70,496,582 Authorized but Unissued Debt The City currently has no authorized but unissued bonds or warrants. General Obligation Warrants Issue Principal Outstanding General Obligation Warrants, Series ,810,000 General Obligation Warrants, Series ,035,000 General Obligation Warrants, Series ,010,000 General Obligation Warrants, Series 2014 CWSRF-DL 880,000 General Obligation Warrants, Series 2013-A 10,000,000 General Obligation Warrants, Series ,714,942 General Obligation Warrants, Series ,755,000 General Obligation Warrants, Series 2009-A 935,000 General Obligation Warrants, Series 2009-B 5,765,000 General Obligation Warrants, Series ,195,000 Total 56,099,942

5 General Obligation Capitalized Leases The City has entered into long-term financing leases for vehicles, equipment, and software, of a total liability of approximately $3,423,967. Such lease payments are general obligations of the City. Statement of Debt to Assessed Value and Debt Per Capita Ratio of Net General Net Net General Obligation Debt General Obligation 9/30 Population Assessed Value Obligation Debt to Assessed Value Debt Per Capita , ,184,530 60,846, ,780 Debt Service on Outstanding General Obligation Warrants Total 9/30 Series 2016 Series 2015 Series 2014 CWSRF-DL Series 2014 Series 2013-A Series 2013 Series 2012 Series 2009A Series 2009-B Series 2009-B SUBSIDY Series 2008 General Obligations , ,858 59, , , ,949 1,141,350 72, ,050 (91,511) 621,863 4,595, , ,383 58, , , , , , ,750 (86,547) 622,581 4,576, , ,858 58, , , , , , ,138 (80,833) 4,480, , ,933 62, , , , , ,575 (74,810) 4,490, ,200, ,483 61, , , , , ,850 (70,357) 4,484, ,225, ,733 60, , , , , ,753 (65,134) 4,479, ,600, ,683 59, , , , ,681 (56,675) 4,475, ,709, ,843 58, , , , ,697 (47,271) 4,301, ,713, ,534 62, , , , ,606 (37,508) 4,304, ,720, ,655 60, , , , ,125 (27,294) 4,306, ,731, ,031 59, , , , ,500 (16,709) 4,304, ,727, ,610 58, , , , ,500 (5,678) 4,305, ,538 3,168, , ,949 3,837, ,300 3,166, , ,949 3,834, , ,200 3,454, ,949 3,830, ,825 3,573, ,949 3,835, ,588 3,590, ,500 3,835, ,350 61,350 Total 14,897,802 10,514,604 1,080,142 12,545,075 16,261,368 3,450,684 4,215, ,632 7,800,225 (660,327) 1,244,444 72,340,324