Lebanon City Finances

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Of the eight funds that contribute to Lebanon's 2004 property tax levy, four of them show an increase from 2003. Of particular concern is the general fund, which accounts for the great majority of the total budget.

Lebanon's total 2004 general fund budget is 10.33 percent more than last year. The portion of the general fund budget allocated to the property tax levy increases16.80 percent. From 1997 to 2002, per capita general fund disbursements increased 45.75 percent, which was 3.74 times more than the rate of inflation.

There are several sources for the increase in this year's general fund budget. The $20,000 salt barn increase, $144,500 total insurance increase, and even the $100,000 fire department chassis all probably make sense. Of more concern is the $29,000 increase in consultant and engineering fees for the building inspector. Another concern is the $135,875 COIT spending increase caused primarily by the large, unpublicized and unwarranted increase in the public safety building project: all of a sudden, this $775,000 project has become a $1.25 million project.

The largest single source of increase in this year's general fund budget is a 6.50 percent increase in salaries and benefits. This increase ranges from 3.00 percent for the city attorney to 6.54 percent for the police department to 6.75 percent for the fire department to 24.79 percent for the city court. The 6.50 percent salaries and benefits increase will exceed the salary and benefits increase received by the average Lebanon citizen.

However, the concerns just stated are pretty much offset by the bottom line of this budget. The 2004 property tax levy will apparently be 3.44 percent less than the 2003 property tax levy. This good result is primarily achieved by removing $307,521 in storm water bond and interest payments from the property tax levy.

The tables below contain information about City of Lebanon receipts and disbursements from 1997 through 2002.

City of Lebanon Receipts

(compiled August 22, 2003)

FUND

1997

1998

1999

2000

2001

2002

General Fund

6,292,523

7,129,292

8,040,462

County Drug Defense

100

0

0

LPD - C/F

30,009

0

0

LPD - C/M

7,920

0

0

LPD - 97 State Grant

0

0

0

LPD K-9 Unit Fund

0

0

573

Law Enforcement Contin. Educ.

2,302

1,662

1,125

Dare Program

6,717

685

12,990

LPD Miscellaneous Income

3,068

3,127

10,016

LPD - Unrestricted Donations

9,200

143

0

Police Pension

140,427

121,861

174,187

Fire Pension

122,260

134,436

175,620

LFD - Hazmat Fund

152

0

300

LFD Unrestricted Donations

1,750

21,715

167

Fire Tower Training Facility

0

0

22,608

Local Road and Street

105,092

130,702

73,725

Motor Vehicle Highway

781,433

1,045,892

434,019

MVH Investments

0

550,000

0

Parks and Recreation

319,041

403,404

439,152

Parks Unrestricted Donation

27,243

0

15,220

Parks Non/Rev

8,077

12,199

14,095

Cumulative Capital Improvemnt

55,563

54,936

65,729

Cumulative Capital Developmnt

743,110

1,792,965

170,230

Cum Cap Devlp Investments

0

1,350,000

0

HFD2 Project - City Match

1,245

0

0

Memory Hall Gym Project

7,684

0

0

Payroll

3,954,872

5,131,835

4,734,460

Employee Benefit Plan

186,859

352,811

360,043

Defferal Program

9,094

10,725

5,452

Stenz Escrow Retainage Acct

3

0

0

COP FAST Grant

16,872

41,576

0

COPS MORE Grant

11,000

0

0

City Unrestricted Donations

0

1,000

0

Time Deposit - National City

11,732,792

14,605,599

9,171,364

Time Deposit - Key Bank

0

0

6,248,568

City of Lebanon Investments

0

2,840,000

1,420,000

COIT Capital Developmnt Fund

0

0

2,753,890

COIT Catchup Invest. - Farmers

0

0

3,700,000

COIT Catchup Inv. - Key Bank

0

0

1,065,789

Enterprise Blvd. Construction

0

0

133,719

Enterprise Blvd. B & I Fund

0

456,846

3,527,930

Enterprise Blvd. Reserve Fund

0

0

742,069

Enterprise Blvd. (TIF) B & I Inv.

0

0

1,365,000

Enter. Blvd. (TIF) Reserve Inv.

0

0

369,500

Bown Engineering Escrow Acct

0

187,780

0

Sanitation Department

385,202

378,252

496,930

Solid Waste

14,086

13,610

14,784

Storm Water Bond - Phase I

364,611

0

0

Storm Water Bond & Int. Fund

602,578

551,701

665,196

Storm Water - Phase II Exps

5,462,779

120,616

0

Storm Wtr Phase-II Investment

0

8,721

0

Storm Water Invstmnts/Society

645

0

0

Storm Water - Phase III Exps

0

0

1,634,580

Stm Wtr III Invest. @ Farmers

0

0

0

Stm Wtr III Invest. @ Natl City

0

0

0

Stm Wtr III @ Union Federal

0

0

1,000,000

Util. - IN Com-Wtwks Dep./Sav.

441,789

0

0

Wastewater Utility - Operating

1,739,451

2,570,892

3,249,163

Wastewater Utility - Bond & Int.

697,953

672,403

3,878,104

Wastewater Util. - Depreciation

443,738

0

0

Wastewater Utility - Construct.

0

0

0

Wastewater Utility - Improvemnt

2,277,923

8,124,392

1,305,733

Utilities - Swge Debt Serv.Res.

0

339,085

350,953

Sewage Debt Service Investmnt

0

0

339,085

Sewage Depr. Reserve Invest.

0

0

2,850,000

Sewage Improvement Invstmnt

0

2,800,000

0

Sewage B & I Armada Invest.

0

226,740

28,267

Water Utility - Operating

1,455,968

3,280,189

3,636,029

Water Utility - Depreciation

569,186

8,191,875

6,526,498

Water Utility - Customr Deposit

4,795

3,275

859

Water Utility - Construction

556,555

0

0

Water Utility - Bond & Interest

434,423

459,397

17,153

Util. Water B&I Investment

0

14,214

0

Water Depreciation Investment

0

1,750,000

2,850,000

Water Spec. B&I Acct Key Bal.

408,089

452,094

0

Util. - Water Bond BK#1227940

175,086

0

0

Util. - Wtr Depr. Inv. #1227740

165,690

181,926

0

Utilities - Electric/Water Refund

28,136

17,870

0

Electric Utility - Operating

7,916,170

12,179,878

11,092,459

Electric Utility - Construction

774,855

Electric R & R Investments

0

1,000,000

3,200,000

Electric Util. - Customer Depost

30,500

15,300

0

Util. - IN Com/Elec Const./Sav.

130,084

0

0

Util. - IN Com/Elec R & R/Sav.

203

0

0

Utilities - Electric Ren. & Replc.

324,985

4,603,454

8,208,049

Util. - Elec. R & R BK#0418340

1,222,574

67,328

52,469

SUBTOTAL ALL FUNDS

51,204,462

60,588,971

84,404,403

76,212,861

93,925,986

96,644,311

(Less) Add:

Investment Sales

8,518,054

(13,613,137)

(18,543,680)

(18,543,680)

Transfers In

(41,371)

(41,371)

(41,371)

NET RECEIPTS

92,922,457

62,558,353

75,340,935

78,059,260

Lebanon Population

13,574

13,790

14,006

14,222

14,059

14,231

Net Receipts Per Capita

$6,634

$4,398

$5,358

$5,485

Incr. (Decr.) From Prior Year

(33.70%)

21.82%

2.37%

CONSUMER PRICE INDEX

160.3

163.0

166.2

172.4

178.0

179.9

Increase From Prior Year

1.68%

1.96%

3.73%

3.24%

1.06%

SOURCES:

1. Receipts data from the City of Lebanon Annual Financial Report for each of the indicated calendar years.

2. Population obtained/estimated from http://www.finplaneducation.net/boone_county_growth_projections.htm 

3. Consumer Price Index data from http://www.finplaneducation.net/consumer_price_index.htm 

SAMPLE CALCULATIONS:

A. 2001 Net Receipts Per Capita = (75,340,935) / (14,059) = $5,358

B. 2001 Net Receipts Per Capita Increase From Prior Year = ($5,358 - $4,398) / ($4,398) = 21.82%

C. 2001 Consumer Price Index Increase From Prior Year = (178.0-172.4) / (172.4) = 3.24%

 

City of Lebanon Disbursements

(compiled August 22, 2003)

FUND

1997

1998

1999

2000

2001

2002

General Fund

5,430,013

7,254,607

8,298,314

County Drug Defense

LPD - C/F

18,553

LPD - C/M

LPD - 97 State Grant

4,979

41,597

0

LPD K-9 Unit Fund

2,542

Law Enforcement Contin. Educ.

768

84

1,363

Dare Program

6,167

535

6,340

LPD Miscellaneous Income

6,975

LPD - Unrestricted Donations

7,950

256

Police Pension

130,785

126,303

143,675

Fire Pension

186,298

143,752

184,701

LFD - Hazmat Fund

124

34

280

LFD Unrestricted Donations

17,961

10,440

Fire Tower Training Facility

5,371

Local Road and Street

65,366

175,236

88,628

Motor Vehicle Highway

742,622

1,084,147

382,800

MVH Investments

700,000

Parks and Recreation

306,699

342,282

436,397

Parks Unrestricted Donation

25,750

9,338

Parks Non/Rev

6,261

14,413

8,589

Cumulative Capital Improvemnt

166,563

83,770

Cumulative Capital Developmnt

690,656

1,675,647

43,181

Cum Cap Devlp Investments

1,600,000

HFD2 Project - City Match

Memory Hall Gym Project

7,684

Payroll

3,959,996

5,123,284

4,737,783

Employee Benefit Plan

156,649

367,539

356,937

Defferal Program

5,548

9,306

6,012

Stenz Escrow Retainage Acct

565

COP FAST Grant

16,872

4,703

COPS MORE Grant

11,000

City Unrestricted Donations

1,000

Time Deposit - National City

11,703,865

14,592,340

9,283,279

Time Deposit - Key Bank

6,137,928

City of Lebanon Investments

3,550,000

1,420,000

COIT Capital Developmnt Fund

2,753,000

COIT Catchup Invest. - Farmers

2,000,000

COIT Catchup Inv. - Key Bank

Enterprise Blvd. Construction

512,498

134,964

Enterprise Blvd. B & I Fund

231,859

1,783,934

Enterprise Blvd. Reserve Fund

369,500

Enterprise Blvd. (TIF) B & I Inv.

2,430,000

Enter. Blvd. (TIF) Reserve Inv.

739,000

Bown Engineering Escrow Acct

Sanitation Department

339,102

416,217

450,558

Solid Waste

16,415

7,225

11,179

Storm Water Bond - Phase I

67,277

Storm Water Bond & Int. Fund

583,141

585,660

584,359

Storm Water - Phase II Exps

5,341,332

177,859

3,200

Storm Wtr Phase-II Investment

225,668

Storm Water Invstmnts/Society

27,588

Storm Water - Phase III Exps

2,453,958

Stm Wtr III Invest. @ Farmers

500,000

Stm Wtr III Invest. @ Natl City

1,000,000

Stm Wtr III @ Union Federal

Util. - IN Com-Wtwks Dep./Sav.

446,600

Wastewater Utility - Operating

1,800,613

2,204,848

3,678,982

Wastewater Utility - Bond & Int.

685,270

672,270

366,414

Wastewater Util. - Depreciation

440,560

Wastewater Utility - Construct.

(3,126)

Wastewater Utility - Improvemnt

2,167,529

8,013,348

1,290,706

Utilities - Swge Debt Serv.Res.

339,085

(152,003)

Sewage Debt Service Investmnt

339,085

339,085

Sewage Depr. Reserve Invest.

Sewage Improvement Invstmnt

3,820,000

500,000

Sewage B & I Armada Invest.

333,125

79,472

Water Utility - Operating

1,240,359

3,272,474

3,566,981

Water Utility - Depreciation

407,575

8,202,895

7,917,875

Water Utility - Customr Deposit

3,810

2,135

1,718

Water Utility - Construction

469,036

Water Utility - Bond & Interest

408,089

474,233

Util. Water B&I Investment

550,366

Water Depreciation Investment

3,930,000

4,200,000

Water Spec. B&I Acct Key Bal.

440,863

452,094

17,153

Util. - Water Bond BK#1227940

442,474

Util. - Wtr Depr. Inv. #1227740

1,231,655

3,613,141

Utilities - Electric/Water Refund

28,228

17,835

Electric Utility - Operating

7,711,673

12,070,815

10,077,907

Electric Utility - Construction

892,656

Electric R & R Investments

3,300,000

7,100,000

Electric Util. - Customer Depost

22,390

14,190

2,145

Util. - IN Com/Elec Const./Sav.

140,506

Util. - IN Com/Elec R & R/Sav.

12,730

Utilities - Electric Ren. & Replc.

307,057

4,623,925

4,345,713

Util. - Elec. R & R BK#0418340

7,049

384,390

SUBTOTAL ALL FUNDS

49,326,259

60,742,236

95,318,696

73,003,691

91,158,545

90,497,935

(Less):

Investment Purchases

(225,668)

(15,211,200)

(21,182,813)

(21,182,813)

Transfers Out

(41,371)

(41,371)

(41,371)

NET DISBURSEMENTS

95,093,028

57,751,120

69,934,361

69,273,751

Lebanon Population

13,574

13,790

14,006

14,222

14,059

14,231

Net Disbursemnts Per Capita

$6,789

$4,060

$4,974

$4,867

Incr. (Decr.) From Prior Year

(40.19%)

22.51%

(2.15%)

CONSUMER PRICE INDEX

160.3

163.0

166.2

172.4

178.0

179.9

Increase From Prior Year

1.68%

1.96%

3.73%

3.24%

1.06%

SOURCES:

1. Disbursements data from City of Lebanon Annual Financial Report for each of the indicated calendar years.

2. Population obtained/estimated from http://www.finplaneducation.net/boone_county_growth_projections.htm 

3. Consumer Price Index data from http://www.finplaneducation.net/consumer_price_index.htm 

SAMPLE CALCULATIONS:

A. 2001 Net Disbursements Per Capita = (69,934,361) / (14,059) = $4,974

B. 2001 Net Disbursements Per Capita Increase From Prior Year = ($4,974 - $4,060) / ($4,060) = 22.51%

C. 2001 Consumer Price Index Increase From Prior Year = (178.0-172.4) / (172.4) = 3.24%

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This page was last updated on 09/20/16 .