Five Texas Cities Budget Comparisons. Budget, Finance, & Audit Committee December 1, 2014
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2 Five Texas Cities Budget Comparisons Budget, Finance, & Audit Committee December 1, 2014
3 Purpose Provide comparison of annual budgets for five largest cities in Texas Dallas, Austin, Fort Worth, Houston, San Antonio Provide historical comparison of select budget metrics for City of Dallas No action of committee is required; briefing is informational only 2
4 Texas Cities in Briefing Fort Worth Pop-792,727 Households- 269,433 Sq. Miles- 350 Budget- $1.5 billion FTE- 6,395 Austin Pop-885,400 Households- 349,200 Sq. Miles- 272 Budget- $3.5 billion FTE- 12,931 San Antonio Pop-1,409,019 Households- 493,102 Sq. Miles- 467 Budget- $2.4 billion FTE- 11,339 Dallas Pop-1,257,676 Households- 476,733 Sq. Miles- 385 Budget- $2.8 billion FTE- 13,483 Houston Pop-2,195,914 Households- 815,266 Sq. Miles- 602 Budget- $4.8 billion FTE- 21,698 3
5 Overview Comparison of budgets (even at a high-level) for other cities is difficult since every city categorizes budget items differently Budgets for other four cities have been adjusted to match Dallas general fund budget as much as possible: For example, in Austin, San Antonio, and Fort Worth sanitation services are provided as an enterprise fund not part of general fund Fort Worth has a ½ percent Crime Control District sales tax; those revenues have been added to its Other Revenues and expenses added to the Police Department Still not an exact apples-to-apples comparison 4
6 Overview and Observations Property tax bill is much more than tax rate; and includes value, exemptions, and rate Dallas homestead and over-65/disabled exemptions benefit home owners yet reduces revenue for City Sales tax dedicated to transit supports DART yet reduces revenue for City Transfers from City-owned electric/gas utilities (Austin/San Antonio) and other revenues (dedicated sales taxes/ transportation user/code fees) reduce reliance on property tax 5
7 Overview and Observations Dallas ranks below the average for general fund expenditures per capita Dallas has the highest percentage of budget devoted to police and fire services at 58% Dallas debt service tax rate has fallen by 12.2% since FY11 Dallas percentage of budget dedicated to debt service has also decreased 5.3% since FY10 6
8 Areas of Comparison General Fund Revenues Property Tax Sales Tax General Fund Expenses Public Safety (Police/Fire) Debt Service Non-General Fund Fees Average Cost for Citizen 7
9 General Fund Revenues
10 FY15 General Fund Revenue Budget (Revenue Sources as % of Total) 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 10% 11% 20% 21% 15% 13% 6% 8% 15% 9% 18% 14% 23% 13% 6% 29% 17% 28% 18% 21% 45% 42% 46% 31% 22% Dallas Austin Fort Worth Houston San Antonio Property Tax Sales Tax Utility Transfers/ Franchise Fees Charges for Service Other Revenues Note: Adjustments made to other cities to be comparable to Dallas general fund. 9
11 FY15 General Fund Revenue Budget ($ in Millions) $2,314 $2,000 $1,500 $1,000 $1,167 $1,127 $735 $1,235 $500 $0 Dallas Austin Fort Worth Houston San Antonio Property Tax Sales Tax Utility Transfers/ Franchise Fees Charges for Service Other Revenues Dallas Austin Fort Worth Houston San Antonio Property Tax $520.3 $354.4 $308.9 $1,069.5 $273.3 Sales Tax (1% only) Utility/Franchise Fees Charges for Service Other Revenues
12 Property Tax Property tax is typically largest source of general fund revenue for Texas cities Property tax payments from property owners (tax bill) is based on following: Property values determined by Appraisal Districts Tax rate set by City Council Exemptions set by City Council 11
13 Dallas Metric: Tax Base (Total Certified Value in $ Billions) 2009 Peak Level (Tax Year 2008) 12
14 Dallas Metric: Tax Base (Percent Residential, Commercial, & BPP) 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 14.4% 14.6% 15.0% 14.8% 15.0% 15.0% 15.0% 14.0% 40.5% 40.6% 38.8% 37.8% 37.8% 39.1% 40.2% 41.5% 45.1% 44.8% 46.2% 47.4% 47.2% 45.9% 44.8% 44.5% FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 Residential Commercial Business Personal Property 13
15 Dallas Metric: Tax Rate (Rate in Cents per $100 Valuation) FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 General Fund Debt Service 14
16 Dallas Metric: Tax Rate (Percent General Fund and Debt Service) 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 30.5% 30.1% 34.2% 33.2% 32.5% 31.8% 29.7% 29.2% 69.5% 69.9% 65.8% 66.8% 67.5% 68.2% 70.3% 70.8% FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 General Fund Debt Service 15
17 Property Tax Comparison (Most Recent Certified Roll) Tax Base Value (% change from PY) Residential Commercial Bus Personal Prop Property Tax Rate per $100 valuation Dallas Austin Fort Worth Houston San Antonio $93.14 billion (+6.75%) 44.5% 41.5% 14.0% $ $98.33 billion (+11.1%) 48.0% 42.6% 9.4% $ $47.08 billion (+6.3%) 43.4% 38.5% 18.1% $ $ billion (+10.7%) 39.7% 47.0% 13.3% $ $79.77 billion (+6.1%) 49.2% 37.3% 13.5% $ General Fund Debt Service 70.8% 29.2% 76.6% 23.4% 79.1% 20.9% 75.2% 24.8% 62.6% 37.4% Last Tax Rate Change City Exemptions: Homestead Over 65/Disabled FY11-Increase from $ to $ (+6.6%) 20% $64,000 FY15- Decrease from $ to $ (-4.3%) None $51,000 FY07- Decrease from $ to $ (-0.6%) 20% $40,000 Source: FY15 adopted budget documents and city Finance Departments. FY15- Decrease from $ to $ (-1.3%) 20% $80,000 FY10- Decrease from $ to $ (-0.3%) None $65,000 16
18 Property Tax Comparison Tax Bill Dallas Austin Fort Worth Houston San Antonio Average Single- Family Residential Market Value Value of City Homestead Exemption Average Taxable Value $194,480 $242,672 $130,255 $173,129 $156,342 ($38,896) $0 ($26,051) ($34,626) $0 $155,584 $242,672 $104,204 $138,503 $156,342 Tax Rate/$100 $ $ $ $ $ Average City Property Tax Bill $1, $1, $ $ $ Source: Appraisal Districts; Tax Year
19 Average Tax Bill for $100,000 Home Fort Worth (20%) $684 Dallas (20%) $638 San Antonio (0%) $566 Houston (20%) $505 Austin (0%) $ *City homestead exemption shown in parenthesis 18
20 Property Tax Observations Neither Austin or San Antonio have city homestead exemptions Both Austin and Fort Worth have lower over-65/disabled homestead exemptions than Dallas Of 5 cities, Austin has least favorable exemptions to homeowner (no homestead, $51,000 over-65/disabled exemption) If Dallas had no homestead exemption, an additional $8.1 billion in value would be taxable and generate additional $63m in revenue at current rate If City s tax rate were reduced to rate necessary to generate current revenue budget, tax rate could be reduced by $0.069 (-8.7%) from $ to $
21 Sales Tax Sales tax is also major revenue source for Texas cities Sales tax is more volatile and is reflective of health of local economy Typically declines and recovers faster than property tax base State law caps total sales tax rate at 8.25% 6.25% retained by State 2.00% for local entities (cities, transit authorities) 20
22 Dallas Metric: Sales Tax Revenue ($ in millions) $280 $268.7m $260 $ Peak Level $229.9m $220 $216.9m $200 $180 $160 $140 $134.6m $183.2m $204.7m $120 FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY
23 Sales Tax Comparison Local Sales Tax Rates (net of the State s 6.25% rate) Sales Tax Revenue (FY14 GF Actual- Unaudited) Dallas Austin Fort Worth Houston San Antonio 2.00% 1%-City (GF) 1%-Transit 2.00% 1%-City (GF) 1%-Transit 2.00% 1%-City (GF) 0.5%-Crime Control District (City) 0.5%- Transit 2.00% 1%-City (GF) 1%-Transit 2.00% 1%-City (GF) 0.125%-Linear Parks Development (City) 0.125%-Pre-K 4 SA Education (City) 0.25%-Advanced Transportation District 0.5%-Transit $255.7m $180.7m $125.5m $639.7m $241.5m Sales Tax per Capita $203 $191 $157 $291 $171 Unemployment 5.1% 4.2% 5.0% 5.0% 4.7% Retail Occupancy 92.7% 95.1% 92.7% 93.7% 94.4% % of Population with Bachelor s Degree or Higher Median Household Income (City-level) 30.7% 46.7% 28.2% 31.4% 25.8% $41,978 $56,351 $52,430 $45,353 $45,399 22
24 Sales Tax Observations Of sales tax rate in Dallas, 1% goes to DART while Fort Worth and San Antonio s transit rate is 0.5% Both Fort Worth and San Antonio use additional 0.5% for purposes such as crime control, infrastructure, parks, and Pre-K education If Dallas had 0.5% additional sales tax, it would equal $134.3m for purposes other than DART If property tax rate was lowered commensurate with this additional revenue, decrease would equal $ (from $ to $0.6494) 23
25 Other Major General Fund Revenues Both Austin and San Antonio have city-owned electric/gas utilities that provide significant resources for their general funds Austin (electric only)-$126m San Antonio (gas and electric)-$315m Dallas electric/gas franchise fees- $62m If Dallas had a utility transfer above its franchise fee revenue, it would lower the tax rate $ $
26 Other Major General Fund Revenues Austin has two additional fees it charges residents: Transportation User Fee ($36.9m)-funds street maintenance; TUF is $8.25/month for a single-family home Clean Community Fee ($15.1m)-funds code enforcement services; CCF is $7.40/month for a single family home San Antonio enacted a Parks Environmental Fee in FY14 that is $1/month fee used to maintain parks including mowing, litter removal, and tree trimming 25
27 General Fund Expenditures
28 Dallas Metric: History of General Fund Expenses by Key Focus Area 100% 90% 80% 70% 60% 10.9% 10.7% 8.9% 8.8% 8.9% 9.6% 9.5% 9.8% 9.7% 9.7% 8.8% 9.5% 9.6% 10.3% 10.9% 11.2% 8.3% 7.7% 8.4% 8.7% 8.1% 8.2% 8.3% 8.3% 11.2% 11.7% 10.8% 10.8% 10.9% 11.0% 10.8% 11.0% 50% 40% 30% 59.9% 60.2% 63.0% 62.2% 62.5% 60.9% 60.5% 59.8% 20% 10% 0% FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 Public Safety Clean Healthy Environment E-Government Economic Vibrancy Culture Arts Recreation & Education 27
29 Dallas Metric: History of General Fund Expenses by Key Focus Area $1,200 $1,000 $800 $600 $1,094 $1,043 $1,018 $1,006 $1,011 $1,041 $116.8 $113.4 $90.7 $88.7 $90.1 $100.3 $106.5 $101.3 $90.0 $96.1 $97.5 $107.5 $84.4 $87.1 $85.8 $87.1 $81.5 $85.1 $127.5 $116.5 $110.1 $108.8 $110.5 $114.6 $1,167 $1,118 $114.9 $106.6 $121.5 $130.3 $93.1 $95.9 $120.9 $128.4 $400 $200 $624.8 $658.7 $641.8 $625.5 $631.8 $633.9 $676.4 $697.2 $0 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 Public Safety Clean Healthy Environment E-Government Economic Vibrancy Culture Arts Recreation & Education 28
30 Dallas Metric: General Fund Expense Budget (Adjusted for Inflation) $1,205 $1,210 $1,167 $1,155 $1,151 $1,133 $1,105 $1,094 $1,097 $1,053 $1,042 $1,066 $1,118 $1,055 $1,005 $1,018 $1,041 $1,043 $1,006 $1,011 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 Budget Adjusted for Inflation General Fund Budget Source: Bureau of Economic Analysis; Price Index for Government Consumption Expenditures (State & Local Governments)-July
31 FY15 General Fund Expenditures (Expenditures as % of Total) 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 21% 26% 23% 33% 21% 6% 2% 7% 7% 8% 8% 3% 3% 3% 3% 6% 7% 7% 2% 5% 3% 4% 6% 4% 7% 20% 21% 16% 22% 22% 38% 32% 38% 34% 34% Dallas Austin Fort Worth Houston San Antonio Police Fire/EMS Streets Parks & Rec Libraries Sanitation Other Note: Adjustments made to other cities to be comparable to Dallas general fund. 30
32 FY15 General Fund Expenditures ($ in millions) $2,314 2,000 1,500 1, $1,167 $1,127 $735 $1,235 - Dallas Austin Fort Worth Houston San Antonio Police Fire/EMS Streets Parks & Rec Libraries Sanitation Other Dallas Austin Fort Worth Houston San Antonio Police $438.1 $361.1 $280.4 $776.8 $421.0 Fire/EMS Streets Parks & Rec Libraries Sanitation Other Expenses
33 Other General Fund Expenses Other expense category includes services such as: Code Compliance Housing/Human Services Municipal Court Economic Development Cultural Affairs Planning/Development Services/Historic Preservation Street Lighting Administrative Departments (HR, Legal, Audit, Finance) Non-Departmental 32
34 FY15 General Fund Expenditure Budget (Total Expenditure per Capita) Austin $1,272 Houston $1,054 Fort Worth $927 Dallas $927 San Antonio $876 $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 33
35 Public Safety
36 Public Safety Comparison Fire Dallas Austin Fort Worth Houston San Antonio Public Safety (Police + Fire) as % of GF* 58% 53% 54% 56% 56% Fire/EMS Budget (FY15) Fire/EMS Uniform FTE s $228m $239m $117m $507m $276m 1,938 1, ,876 1,663 Fire Stations Sq. Miles covered by each Fire Station ISO Rating (scale =Best) Note: Fort Worth EMS is privatized and City subsidy was eliminated in FY11 *% determined using cities comparison to Dallas general fund from previous slides. Dallas Public Safety KFA represents 59.8% which includes services of other departments. 35
37 Public Safety Comparison Police Dallas Austin Fort Worth Houston San Antonio Police Budget (FY15) Police Budget per Capita $438m $361m $280m $777m $421m $348 $408 $354 $354 $299 Police Uniform Strength 3,474 1,675 1,545 5,358 2,312 (per 1,000 Pop.) Police Stations Violent Crime Rate 0.66% 0.36% 0.56% 0.96% 0.63% Property Crime Rate 4.17% 4.85% 4.34% 5.09% 5.71% Total Crime Rate 4.83% 5.21% 4.90% 6.05% 6.35% Note: Fort Worth Police includes 191 Uniform positions funded through Crime Control District Sales Tax Crime Rate equals # of incidents divided by population; 2014 FBI UCR Statistics 36
38 Public Safety Police Observations Dallas has the highest officer per 1,000 population of the five cities If Dallas were to adjust to the other cities: Dallas Austin Fort Worth Houston San Antonio Police Uniform Strength 3,474 1,675 1,545 5,358 2,312 (per 1,000 Pop.) Dallas change in Strength to match city s officers per 1,000 Pop. (+/-) Est. Budgetary Impact of Change (1,094) (1,004) (409) (1,394) ($82.1m) ($75.4m) ($30.7m) ($104.7m) Note: Budgetary impact based on average salary and benefits of $75,078/officer 37
39 Debt Service
40 Dallas Metric: Total Outstanding General Obligation Debt 2.1 $ ($ in billions) $1.90 $1.94 $1.80 $1.69 $ $ $1.55 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 Note: FY15 projected balance as of 9/30/15. Assumes $350M debt issuance in Dec
41 Dallas Metric: Debt Service Budget as a Percent of Tax-supported Operating Budget 23.0% 22.0% General Fund + Debt Service 21.7% 21.0% 20.0% 19.0% 18.0% 18.2% 19.7% 19.4% 17.0% 16.0% 17.4% 17.9% 16.8% 16.4% 15.0% FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 Note: FY15 assumes interest payment on $350M debt issuance in Dec
42 Debt Service Comparison Dallas Austin Fort Worth Houston San Antonio Bond Rating: Moody s S&P Aa1 AA+ Aaa AAA Aa1 AA+ Aa2 AA+ Aaa AAA Most Recent Bond Program Nov $642m Implement over 5 years Nov $306.6m Implement over 4 years* May $292m Implement over 5 years Nov $410m Implement over 6 years Nov $596m Implement over 5 years Outstanding General Obligation Debt $1,547m $948.9m $664.1m $3,201m $1,477m GO Bond Maturities 20 Years 20 Years 20 Years 30 Years 20 Years GO Debt per Capita $1,230 $1,071 $837 $1,457 $1,048 Debt Service Tax Rate (% of total rate) FY15 Debt Service Budget $ $ $ $ $ (29.2%) (23.3%) (20.9%) (24.8%) (37.4%) $221.3m $148.6m $80.6m $328.2m $183.9m *Austin s proposed $600m Bond Program did not pass in the Nov 2014 election 41
43 Average Annual Cost to Citizens
44 Non-General Fund Fees (Typical Residential Monthly Bill) Dallas Austin Fort Worth Houston San Antonio Storm Water $5.77 $9.80 $5.40 $5.00 $4.25 Sanitation $21.31 $29.00 $22.75 Included in tax rate $20.93 Water/Sewer $62.52 $ $62.21 $92.69 $56.61 Parks Environmental Fee Clean Community Fee Transportation User Fee N/A N/A N/A N/A $1.00 N/A $7.40 N/A N/A N/A N/A $8.25 N/A N/A N/A Note: Although not included in the table above, Houston and San Antonio residents also contribute revenue to independent flood control districts (Harris County Flood Control District/San Antonio River Authority) 43
45 Average Annual Cost to Citizens Dallas Austin* Fort Worth Houston San Antonio* Property Tax Bill (City) $1, $1, $ $ $ Storm Water $69.24 $ $64.80 $60.00 $51.00 Sanitation $ $ $ $0 $ Water/Sewer $ $1, $ $1, $ Parks Environmental Fee Clean Community Fee Transportation User Fee $0 $0 $0 $0 $12.00 $0 $88.80 $0 $0 $0 $0 $99.00 $0 $0 $0 Total $2, $3, $1, $2, $1, *Does not factor in impact of citizen payments made to City-owned electric/gas utilities which transfer funds to the General Fund 44
46 Observations and Takeaways
47 Observations Comparing budgets across cities, even in same state, is not apples-to-apples since every city categorizes budget items differently Total cost to citizens is result of much more than just property tax and includes fees for service such as sanitation and water/sewer charges 46
48 Observations Property tax bill is much more than tax rate; and includes value, exemptions, and rate Dallas homestead and over-65/disabled exemptions benefit home owners yet reduces revenue for City Sales tax dedicated to transit supports DART yet reduces revenue for City Transfers from City owned electric utilities and other non-tax revenues reduce reliance on property tax 47
49 Overview and Observations Dallas ranks below the average for general fund expenditures per capita Dallas has the highest percentage of budget devoted to police and fire services at 58% Dallas debt service tax rate has fallen by 12.2% since FY11 Dallas percentage of budget dedicated to debt service has also decreased 5.3% since FY10 48
50 Questions?
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