Revenues

1. Where our money comes from (all governmental funds)

 

3. Revenue sources per capita - compared to the prior year

2. Compared to the prior year
	2010	2011	% Change
Taxes	$25,063,376	$26,285,836	5%
Licenses & permits	1,722,772	1,925,645	12%
from Federal govt	3,245,568	2,187,345	-33%
from State govt	9,654,406	9,773,476	1%
Local contributions	620,386	1,074,212	73%
Charges for services	4,768,355	4,977,520	4%
Fines & forfeitures	1,669,337	1,587,309	(0)
Interest & rent	2,493,556	2,259,121	(0)
Other revenue	1,180,425	1,657,689	40%
Total	$50,418,181	$51,728,153	3%

 

4. Historical trends of individual sources
Charges for Services Fines & forfeitures from Federal Govt. from State Govt. Interest & rent Licenses & Permits Local Contributions Other Revenue Taxes Total Revenue

Commentary: Property Taxes continue to be the single largest funding source for the City operations providing approximately 50% of all revenue received in governmental funds. The next largest source of revenue is funds received from the State in the form of state shared revenue (sales tax), motor vehicle highway funds (gas tax) and various state grants. Over one-half of the funds received are restricted in nature and may only be spent on the purpose for which they have been collected. Char 4, historical trends of individual sources, reflects the dollars received by each funding source. By clicking the down arrow you can change the category showing.

For more information on our unit's finances, contact Timothy H. Smith, CPA at (616)530-3170.

(EVIP - Category One - Accountability and Transparency - Continued)

City of Wyoming - Summary of General Fund Actual and Estimated Revenues, Expenditures and Fund Balance

City of Wyoming - Bond Schedule as of 06/30/2012

Expenditures

1. Where we spend our money (all governmental funds)

 

3. Spending per capita - compared to the prior year

 

2. Compared to the prior year
	2010	2011	% Change
General Government	$6,441,984	$6,083,826	-6%
Police & Fire	19,994,121	19,926,141	0%
Judicial	1,827,896	1,757,495	-4%
Public Works	6,228,501	6,325,238	2%
Legislative	177,385	158,751	-11%
Health & welfare	1,761,496	1,415,166	-20%
Miscellaneous	294,795	-	-100%
Recreation & culture	5,628,960	5,051,676	-10%
Capital outlay	4,677,741	2,675,587	-43%
Debt service	5,122,151	4,959,144	-3%
Interfund transfers (net)	-	-	n/a
total expenditures	$52,155,030	$48,353,024	-7%

 

4. Historical trends of individual departments
Capital Outlay Debt Service Extraordinary/Special Items General Government Health & Welfare Judicial Legislative Miscellaneous Net Interfund Transfers Police & Fire Public Works Recreation & Culture Total Expenditures Unallocated Fringes & Insurance

 

Commentary: The police and fire component of governmental funds accounts for over 38% of governmental expenditures. General government includes many different departments (assessor, clerk, city council, finance, human resources, legal, manager, purchasing, treasurer, etc) necessary to run the business side of the City. Public works includes street construction and maintenance, sidewalk snow plowing and repair, and solid waste disposal. Chart 4, historical trends of individual sources, reflects the dollars spent in each category. By clicking on the down arrow, you can change the category showing.

For more information on our unit's finances, contact Timothy H. Smith, CPA at (616)530-3170.

Financial Position

1. How have we managed our governmental fund resources (fund balance)

 

3. Fund balance per capita - compared to the prior year

 

2. Compared to the prior year
	2010	2011	% Change
Revenue	$50,418,181	$51,728,153	3%
Expenditures	52,155,030	48,353,024	-7%
Surplus (shortfall)	($1,736,849)	$3,375,129	-294%
Fund balance, by component:
Reserved	11,928,411	12,649,414	6%
Designated	352,293	463,213	31%
Undesignated	7,617,468	10,160,674	33%
Total fund balance	$19,898,172	$23,273,301	17%

 

4. Historical trends of individual components

 

Commentary: Reserved fund balance represents fund balances in special revenue funds where the use of the balance is restricted by restrictions imposed relating to receiving the funds. Examples of funds included in this category include major and local streets who receive Act 51 Funds (motor fuel tax revenue) from the State where the use is restricted by State law. Another example of a restricted fund would be the Parks and Recreation Fund that is funded primarily by a property tax that voters approved. The revenue raised by the tax millage may be used only to support the Parks and Recreation Fund. The undesignated fund balance represents the general fund fund.

For more information on our unit's finances, contact Timothy H. Smith, CPA at (616)530-3170.

Other Long Term Obligations

1. Pension funding status

 

2. Retiree Health care funding status

 

3. Percent funded - compared to the prior year

 

4. Long Term Debt obligations:

 

5. Debt & other long term obligations per capita - compared to the prior year

 

Commentary: The pension fund and retiree health care funding shown in charts 1, 2 and 3 above include both governmental and enterprise (business type) funds. Long-term debt obligations and debt & other long term obligations per capita do not include enterprise fund information. Structured debt represents bonds issued by the City to pay for various City buildings (i.e. the Wyoming Public Library building, Police headquarters, etc) and various special assessments projects. The funds used to pay for these bonds come from primarily two sources - property owners that are being assessed for improvements and property taxes paid by the citizens of Wyoming. As noted in the 4th chart, long-term debt obligations have been decreasing over the last ten years.

For more information on our unit's finances, contact Timothy H. Smith, CPA at (616)530-3170.

City of Wyoming • 1155 28th St SW • Wyoming, MI 49509 • (616)530-7226