TOTAL REVENUES, RESOURCES AND INTERFUND TRANSFERS $ 377,450,501 $ 793,977,665 $ 34,807,167 $ 123,434,671 $ 51,420,186 $ 1,381,090,189

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1 CITY OF BUFFALO COMBINED SUMMARY STATEMENT BOARD OF BOARD OF CITY EDUCATION CAPITAL DEBT REVENUES, RESOURCES CITY EDUCATION ENTERPRISE SPECIAL SERVICE AND INTERFUND TRANSFERS GENERAL FUND GENERAL FUND FUNDS PROJECT FUNDS FUND REVENUES AND RESOURCES City 177,025,474 10,172,398 29,032,694 2,126, ,357,376 County 75,979,413 38,300, ,279,413 State 194,549, ,881,336 37,510, ,942,082 Federal 2,355,585 2,500,000 82,551,567 87,407,152 Other 16,805,757 48,608,102 11,287,311 3,372,287 80,073,457 REVENUES AND RESOURCES 466,716, ,461,836 40,320, ,434,671 2,126,810 1,367,059,479 INTERFUND TRANSFERS: General Fund - City 70,322,758 (2,673,046) 31 '161,483 98,811,195 General Fund - Board of Education (70,322,758) 4,319,518 (66,003,240) Board of Education 10,806,929 10,806,929 Water Board 5,408, ,557 5,773,184 Enterprise Fund - Parking 9,561,909 2,640,889 12,202,798 Internal Service Fund (225,000) (225,000) Enterprise Fund - Refuse & Recycling (2,526,952) (2,526,952) Capital Debt Service Fund (31 '161,483) (1 0,806,929) (2,839, 792) (44,808,204) INTERFUND TRANSFERS (89,265,657) 59,515,829 (5,512,838) 49,293,376 14,030,710 REVENUES, RESOURCES AND INTERFUND TRANSFERS 377,450, ,977,665 34,807, ,434,671 51,420,186 1,381,090,189 APPROPRIATIONS: OPERATION AND MAINTENANCE: Departmental 202,719,838 24,384, ,104,371 Fringe Benefits 148' 890' 500 9,015, ,906,176 General Charges 21,869, ,400 22,111,800 Education 784,499, ,434, ,934,305 OPERATION AND MAINTENANCE 373,479, ,499,634 33,642, ,434,671 1,315,056,652 EXEMPT ITEMS: Long Term Principal & Interest- City 32,917,956 32,917,956 Long Term Principal & Interest- Board of Educati 15,662,437 15,662,437 Long Term Principal & Interest - Water 364, ,557 Long Term Principal & Interest- Parking 2,475,235 2,475,235 Long Term Principal & Interest- Stadium Long Term Principal & Interest- Refuse Other Exempt Items 3,970,763 9,478,031 1 '1 64,557 14,613,351 EXEMPT ITEMS 3,970,763 9,478,031 1 '164,557 51,420,186 66,033,536 APPROPRIATIONS 377,450, ,977,665 34,807, ,434,671 51,420,186 1,381,090,189

2 CITY OF BUFFALO ENTERPRISE FUND COMBINED SUMMARY STATEMENT DETAIL REVENUES, RESOURCES AND INTERFUND TRANSFERS DIVISION REFUSE & REVENUES AND RESOURCES: OF WATER RECYLING City 20,408,348 Other (Buffalo Water Board) 11,287,311 PARKING 8,624,346 29,032,694 11,287,311 TRANSFERS IN: Transfer in 3,200,002 REVENUES, RESOURCES AND TRANSFERS IN 11,287,311 23,608,350 4,361,909 7,561,911 12,986,255 47,881,916 TRANSFERS OUT: General Fund - City (673,048) Capital Debt Service Fund (364,557) TRANSFERS OUT (364,557) (673,048) REVENUES, RESOURCES AND INTERFUND TRANSFERS 10,922,754 22,935,302 (9,561,909) (1 0,234,957) (2,475,235) (2,839,792) (12,037,144) (13,074,749) 949,111 34,807,167 APPROPRIATIONS OPERATION AND MAINTENANCE Departmental 6,080,066 18,198,652 Fringe Benefits 4,473,130 4,511,150 General Charges 5, ,500 OPERATION AND MAINTENANCE 10,558,196 22,935,302 EXEMPT ITEMS 364, ,815 24,384,533 31,396 9,015,676 11, , ,111 33,642, ,000 1,164,557 APPROPRIATIONS 10,922,754 22,935, ,111 34,807,167

3 CITY OF BUFFALO ADOPTED BUDGET REVENUES, RESOURCES AND INTERFUND TRANSFERS 1,381,090,189 CITY STATE COUNTY FEDERAL OTHER & TRANSFERS 218,357, ,942, ,279,413 87,407,152 94,104,167 1,381,090,189 OTHER 7% STATE 63%

4 CITY OF BUFFALO ADOPTED BUDGET APPROPRIATIONS 1,381,090,189 BOARD OF EDUCATION CITY DEBT SERVICE ENTERPRISE FUNDS 917,412, ,450,501 51,420,186 34,807,167 1,381,090,189 ENTERPRISE FUNDS DEBT SERVICE 3%

5 CITY OF BUFFALO BOARD & CITY GENERAL FUND APPROPRIATIONS 1,171,428,165 BOARD OF EDUCATION 793,977,665 FRINGE 148,890,500 POLICE 79,552,135 FIRE 54,092,920 PUBLIC WORKS 26,353,518 OTHER 46,292,028 MISCELLANEOUS 22,269,400 1 '171,428,165 OTHER MISC 4% 2%

6 CITY OF BUFFALO CITY GENERAL FUND APPROPRIATIONS 377,450,501 FRINGE POLICE FIRE PUBLIC WORKS OTHER MISCELLANEOUS 148,890,500 79,552,135 54,092,920 26,353,518 46,292,028 22,269, ,450,501 MISC 6% FRINGE 40% POLICE 21 %

7 GENERAL FUND - CITY SUMMARY STATEMENT ADOPTED ADOPTED ADOPTED REVENUES & RESOURCES ACTUAL ACTUAL BUDGET BUDGET BUDGET CITY 171,403, ,106, ,622, ,704, ,025,474 COUNTY 71,062,704 71,450,274 69,702,789 75,595,436 75,979,413 STATE 197,795, ,416, ,470, ,862, ,549,929 FEDERAL 2,070,418 1,043,084 1,834,053 1,775,114 2,355,585 OTHER 3,604,847 5,035,228 6,065,302 5,581,308 4,805,757 FUND BALANCE I RESOURCE 12,789,124 12,329,174 11,522,772 12,000,000 REVENUES AND RESOURCES 445,936, ,840, ,024, ,041, ,716,157 INTERFUND TRANSFERS TRANSFERS IN 8,656,802 9,545,223 12,305,466 12,580,121 15,818,584 REVENUES, RESOURCES & TRANSFERS IN 454,593, ,385, ,329, ,621, ,534,741 TRANSFERS OUT (1 03,512,801) (105,746,821) (1 05,7 45,980) (1 05,454,653) (1 05,084,241) REVENUES, RESOURCES AND INTERFUND TRANSFERS 351,080, ,638, ,583, ,166, ,450,501 APPROPRIATIONS OPERATIONS AND MAINTENANCE: DEPARTMENTAL 196,518, ,554, ,134, ,292, ,719,838 FRINGE BENEFITS 116,784, ,913, ,922, ,508, ,890,500 GENERAL CHARGES 26,225,675 26,231,337 24,307,053 24,234,140 21,869,400 OPERATIONS AND MAINTENANCE 339,528, ,698, ,363, ,035, ,479,738 EXEMPT ITEMS 7,409,986 4,940,027 3,219,732 3,131,744 3,970,763 APPROPRIATIONS 346,938, ,638, ,583, ,166, ,450,501

8 STATEMENT OF TAX RATES AND ASSESSED VALUATION HOMESTEAD TAX RATES GENERAL FUND CAPITAL DEBT SERVICE FUND BOARD OF CITY EDUCATION NON HOMESTEAD TAX RATES GENERAL FUND CAPITAL DEBT SERVICE FUND BOARD OF CITY EDUCATION ASSESSED VALUATION ASSESSED REAL ESTATE PLUS: SPECIAL FRANCHISE ASSESSMENTS ASSESSED VALUATION LESS: NON TAXABLE REAL ESTATE RAILROAD EXEMPTION TAX BASE FOR GENERAL CITY PURPOSES PLUS: VETERANS' AND SENIOR CITIZENS EXEMPTIONS SUBJECT TO SCHOOL TAX 9, 773,239, ,755,201 10,159,994,383 3,687,372,750 57,782,394 6,414,839,239 83,115,237 TAX BASE FOR GENERAL SCHOOL PURPOSES 6,497,954,476 HOMESTEAD NON HOMESTEAD TAXABLE VALUE CITY 4,196,455,323 2,218,383,916 6,414,839,239 TAXABLE VALUE SCHOOL 4,278,791,092 2,219,163,384 6,497,954,476

9 GENERAL AND CAPITAL DEBT SERVICE FUNDS COMBINED ANALYSIS OF TAX LEVY AND BREAKDOWN OF HOMESTEAD AND NON HOMESTEAD LEVY BOARD OF APPROPRIATIONS CITY EDUCATION GENERAL FUND 377,675, ,977,665 1,171,653,165 (1) CAPITAL DEBT SERVICE FUND 32,917,956 15,662,437 48,580, ,593, ,640,102 1,220,233,559 LESS OTHER REVENUE, RESOURCES & INTERFUND TRANSFERS GENERAL FUND 340,891, ,461,836 (1) CAPITAL DEBT SERVICE FUND 1,756,474 4,855, ,647, ,317,344 1,075,353,220 6,611,982 1,081,965,202 EQUALS TAX LEVY GENERAL FUND 36,784,116 CAPITAL DEBT SERVICE FUND 31,161,483 TAX LEVY 67,945,599 59,515,829 10,806,929 70,322,758 96,299,945 41,968, ,268,357 HOMESTEAD SHARE OF TAX LEVY 55 03% OF (2) BOARD OF TAX LEVY GENERAL FUND CAPITAL DEBT SERVICE FUND CITY 20,243,403 17,149,099 EDUCATION 32,753,346 5,947,377 52,996,749 23,096,476 HOMESTEAD 37,392,501 38,700,723 76,093,225 NON-HOMESTEAD SHARE OF TAX LEVY 44.97% OF (2) BOARD OF TAX LEVY CITY EDUCATION GENERAL FUND CAPITAL DEBT SERVICE FUND 16,540,714 14,012,384 26,762,483 4,859,552 43,303,196 18,871,936 NON HOMESTEAD 30,553,098 31,622,034 62,175,132 (1) Does not include self sustaining Enterprise Funds i.e., Water and Parking. (2) The City of Buffalo has elected to utilize provisions of New York State law which provides for homestead and non-homestead property tax rates. The Department of Assessment has determined these rates based upon current New York State Assessment laws.

10 GENERAL AND CAPITAL DEBT SERVICE FUNDS COMBINED ANALYSIS OF TAX RATE WITH BREAKDOWN HOMESTEAD AND NON HOMESTEAD SHARE OF TAX LEVY AND TAX RATE (PER 1,000 OF ASSESSED VALUATION) GENERAL FUND HOMESTEAD BOARD OF CITY CITY EDUCATION EDUCATION TAX LEVY TAX RATE TAX LEVY TAX RATE TAX LEVY 20,243, ,753, ,996,749 TAX RATE NON HOMESTEAD 16,540, ,762, ,303,196 36,784,117 59,515,829 96,299, CAPITAL DEBT SERVICE FUND HOMESTEAD 17,149, ,947, ,096, NON HOMESTEAD GRAND - TAXLEVY 14,012, ,859, ,871,936 31,161,483 10,806,929 41,968,412 67,945,600 70,322, ,268, TAX RATE HOMESTEAD NON HOMESTEAD I I Note: Actual tax rates are extended to 8 decimal places, all figures above are rounded to the nearest cent

11 STATEMENT OF LONG AND SHORT TERM DEBT LONG TERM DEBT 7/1/2013 Serial Bonds * General Improvement Various Purposes (City, Solid waste and Stadium) Parking Fund Board Of Education Water Supply LONG-TERM DEBT 171,975,521 13,210, ,680,815 1,268, ,134,741 SHORT TERM DEBT Bond Anticipation Notes Capital Notes Budget Notes Tax Anticipation Notes Revenue Anticipation Notes SHORT-TERM DEBT Total Long & Short Term Debt 17,819,168 17,819, ,953,909 Source: City of Buffalo, Division of Cash & Debt Management

12 CITY OF BUFFALO STATEMENT OF DEBT CONTRACTING POWER July 1, 2013 Average Full Valuation of Taxable Real Property and Special Franchises as Determined by the Last Completed Assessment Roll and the Four Preceding Rolls (per 13/14 recommended budget) 6,529,604,288 I Debt Contracting Limitation: Nine Percent of Average Full Valuation- Article VITI, Section 4, of the Constitution of the State of New York 587,664, % Gross Indebtedness: Borrowings: Serial Bonds DASNY Refunding Bond Anticipation Note Revenue Bonds Total Gross Debt Exclusions: Exempt Debt: Bond Anticipation Notes Water Supply Bonds Solid Waste Parking Facilities Bonds Reserve to Pay Non-Exempt Debt Approp.in Current Budget to Pay Non-Exempt Debt Maturing during Remainder of FY Total Exclusions 258,934,741 29,200,000 17,819, ,953,909 17,819,168 1,268,405 13,210,000 3,479,702 35,469,520 71,246,795 Net Indebtedness Debt-Contracting Margin Authorized But Unissued Non-Exempt Debt Effective Borrowing Capacity 234,707' ,957,272 26,621, ,335, % 60.1% 4.5% 55.5% Source: City of Buffalo, Division of Cash & Debt Management 1- Department of Administrati on & Finance, Div. Of Budget

13 CONDITION OF TREASURY projected bal. estimated bal. as of 6/30/2013 as of 6/30/2014 * GENERAL FUND 343,000, ,000, CAPITAL PROJECTS FUND 84,000, ,000, INTERNAL SERVICE FUND 230, , ENTERPRISE FUND- WATER 37,000, ,000, ENTERPRISE FUND- SOLID WASTE 900, , ENTERPRISE FUND- PARKING 11,200, ,000, TRUST&AGENCYFUND 1,600, ,600, SPECIAL REVENUE FUND 2,600, ,500, CAPITAL DEBT SERVICE FUND 3,800, ,300, (memorandum only) 484,330, ,500, * Includes 3.8 Million of Board Stabilization Reserve Fund Source: City of Buffalo, Division of Cash & Debt Management

14 STATEMENT OF REAL PROPERTY TAX LEVYING LIMITATION FOR THE FISCAL YEAR ENDING JUNE 30, 2014 FISCAL YEAR TAXABLE ASSESSED VALUATION 6,211,380,838 6,406,851,468 6,405, 793,577 6,438,116,744 6,497,954,476 FIVE YEAR FULL VALUE Average Full Valuation of Taxable Real Property and Special Franchises as determined by the last completed assessment roll and the four preceding rolls. Real Property Tax Levying Limitations: Two percent of Average Full Valuation- Article VIII, Section 10, of the Constitution of the State of New York. Exclusions Added Thereto: Appropriations: Net Capital Debt Service (1) Reserve for Capital Improvements Down Payment of Capital Projects Capital Project Account Reserve Objects or purposes for which a period of probable usefulness is provided by Section of the Local Finance Law of the State of New York Total Exclusions Maximum Constitutional Taxing Power Real Property Tax Levy for SPECIAL STATE EQUALIZATION RATIOS ,082, ,000 8,600,232 FULL VALUE 6,375,224,097 6,475,491,680 6,464,621,634 6,601,842,436 6,730,841,595 32,648,021, ,529,604, % 130,592,086 51,083, ,675, ,268,357 (1) Gross Debt Service: Less: Tax and Revenue Anticipation Note Interest Cost Revenue Applied to Debt Resources Applied to Debt Tax Levying Margin 6,446,328 43,406,929 51,170,186 lnterfund Transfers (2) 2,640,889 9,087,217 Net Capital Debt Service (2) Excludes Enterprise Fund - Water 42,082,969

15 RP-495 PILOT (9/08) LOCAL GOVERNMENT EXEMPTION IMPACT REPORT (for local use only-- not to be filed with NYS Board of Real Property Services) Date: April16, 2013 Taxing Jurisdiction: ~B!:!.uf!.!:fa~l~o Fiscal Year Begining: ----!J~u~ly~1,~2~0:..!1~3 Total equalized value in taxing jurisdiction: 10,262,620,589 Payments in Exemption Statutory Number of Lieu of Taxes Code Exemption Description Authority Exemptions (PILOTs) (Column A) (Column B) (Column C) (Column D) (Column E) Municipallndust Dev Aqency RPTL 412-e 86 6,427, Mun Hsng Auth-Fed/Mun Aid Pub Hsng Law 3 37, (3) & (5) Low or Moderate Income RPTL 421-e , Housinq URB Dev Action Area Project Gen MUNY L 1 8, L TO Prof Housing Co PHFI L 33, , a Housing Development Fund Co P H Fl Law 577, 7 100, a Redevelopment Housing Co PH Fl Law , & 127 Totals 195 6,892,388.14

16 NYS BOARD OF REAL PROPERTY SERVICES LOCAL GOVERNMENT EXEMPTION IMPACT REPORT (for local use only-- not to be filed with NYS Board of Real Property Services) RP-495 (9/08) Date: April Taxing Jurisdiction:,B,_,u"-'ff'-"a,_,lo" Fiscal Year Begining:,J:..::u"'ly._1,_.,-=2:.::.0..:..;13" Total equalized value in taxing jurisdiction: 10,262,620,589 Exemption Number of Total Code Statutory Authority Exemptions Value (Column A) Exemption Description (Column B) (Column C) (Column D) NYS - GENERALLY RPTL 404(1) PUBLIC AUTHORITY- STATE RPTL STATE AUTHORITIES SPECIFIED RPTL CO - GENERALLY RPTL 406(1) CITY - GENERALLY RPTL 406(1 ) 7, SCHOOL DISTRICT RPTL CHARTER SCHOOL INCORPORATED ED L REGIONAL OTB CORPORATION RACING L USA- GENERALLY RPTL 400(1) FOREIGN GOVT- EMBASSY RPTL INDIAN RESERVATION RPTL MUNICIPAL INDUSTRIAL DEV AGENCY RPTL 412-a URBAN REN : OWNER-MUNICIPALITY GEN MUNY MUN HSNG AUTH-FEDERALIMUN AID PUB HSNG L 52(3) & (5) UDC OWNED HOUSING PROJECT MC K UCON L UDC OWNED NON-HOUSING PROJECT MC K UCON L RES OF CLERGY-RELIG CORP OWN RPTL NONPROF CORP - RELIG(CONST PROJ) PRTL 420-a NONPROF CORP - EDUCL(CONST PR RPTL 420-a NONPROFCORP-CHAR(CONSTPRO RPTL 420-a NONPROF CORP- HOSPITAL RPTL 420-a NON PROF CORP- MORAL/MENTAL IM RPTL 420-a NONPROFIT HEALTH MAINTENANCE RPTL 486-a VETERANS ORGANIZATION RPTL RAILROAD PROP OWNED BY AMTRAK 45 usc 546b PRIVATELY OWNED CEMETERY LAND RPTL NOT-FOR-PROFIT HOUSING COMPANY RPTL NOT-FOR-PROFIT HOUSING COMPANY RPTL MUN HSNG AUTH-NYS AIDED PUB HSNG L 52(4) & (5) VETS EX BASED ON ELIGIBLE FUNDS RPTL 458(1) VET PRO RATA: FULL VALUE ASSMT RPTL 458(5) 1, AL T VET EX-WAR PERIOD-NON-COM RPTL 458-a 2,323 Percentage Equalized of Value (Column Exempted E) (Column F) 231,814, % 133,742, % 162,917, % 204,013, % 481,388, % 173,863, % 1,666, % 1,860, % 197,802, % 1,575, % 302, % 265,386, % 173,408, % 97,244, % 5,611, % 7,315, % 6,676, % 160,789, % 257,683, % 123,334, % 380,092, % 4,529, % 3,338, % 1,636, % 847, % 12,8 18, % 27,352, % 7,092, % 8,343, % 71, % 24,683, % 25,254, %

17 NYS BOARD OF REAL PROPERTY SERVICES LOCAL GOVERNMENT EXEMPTION IMPACT REPORT (for local use only-- not to be filed with NYS Board of Real Property Services) Date: April18,2013 Taxing Jurisdiction: --=B=-=u=-=-ff'-=a"-'lo, _ Fiscal Year Begining:,J'-"u,_,ly._1.!..1.,-=2'-"0-'-'13, _ Total equalized value in taxing jurisdiction: 10,262,620,589 Exemption Number of Code Statutory Authority Exemptions (Column A) Exemption Description (Column B) (Column C) (Column D) AL T VET EX-WAR PERIOD-COMBAT RPTL 458-a 1, AL T VET EX-WAR PERIOD-DISABILITY RPTL 458-a COLD WAR VETERANS (15%) RPTL 458-b COLD WAR VETERANS (DISABLED) RPTL 458-b CLERGY RPTL PERSONS AGE 65 OR OVER RPTL 467 5, ENHANCED STAR RPTL 425 7, BASIC STAR RPTL , PHYSICALLY DISABLED RPTL DISABILITIES AND LIMITED INCOME RPTL 459-c HISTORIC PROPERTY RPTL 444-a LOW OR MODERATE INCOME HOUSING RPTL 421-e HOME IMPROVEMENTS RPTL 421-f RAILROAD-PARTIALLY EXEMPT RPTL 489-d & dd MIXED-USE PROPERTIES IN CERTAIN RPTL 485-a BUSINESS INVESTMENT PROPERTY RPTL 485-b PROPERTY IMPRVMNT IN EMPIRE ZONE RPTL 485-e FAIR POLLUTION CONTROL FACILIT RPTL 477-a URB DEV ACTION AREA PROJECT GEN MUNY L L TO PROF HOUSING CO P H Fl L 33, 556, 654-a HOUSING DEVELOPMENT FUND CO P H Fl L 577, 654-a REDEVELOPMENT HOUSING CO P H Fl L 125 & INDUSTRIAL WASTE TREATMENT FA RPTL Total Value Equalized (Column E) 35,174,886 10,016,414 1,811, ,646 54, ,854, ,188, ,716,379 6,394 14,533, ,688 66,253, ,306 58,366,055 33,807,677 9,815, ,828, ,997 2,487,273 12,648,370 33,869,764 7,215,547 1,336,799 Percentage of Value Exempted (Column F) 0.34% 0.10% 0.02% 0.00% 0.00% 1.27% 2.20% 5.81 % 0.00% 0.14% 0.01 % 0.65% 0.00% 0.57% 0.33% 0.10% 1.75% 0.00% 0.02% 0.12% 0.33% 0.07% 0.01 % Totals ,605,991, % The exempt amounts do not take into consideration any payments for municipal services. Amount, if any, attributed to payments in lieu of taxes: 6,892, (details contained on RP-495-PILOT)