Shelby County (TN) NAR Labor Relations

Transcription

1 Shelby County (TN) 1 Shelby County, Tennessee General Obligation Public Improvement and School Bonds, 2017 Series A, $83,405,000, Dated: June 21, Shelby County, Tennessee, General Obligation Refunding Bonds, 2016 Series A, $70,110,000, Dated: February 26, Shelby County, Tennessee General Obligation Refunding Bonds, 2015 Series A, $171,830,000 Dated: January 28, Shelby County, Tennessee General Obligation Refunding Bonds, 2012 Series A, $259,340,000 and Special General Obligation School Refunding Bonds, 2012 Series B, $15,060,000, Dated: March 1, Shelby County, Tennessee General Obligation Refunding Bonds, 2011 Series A, $73,795,000, Dated: March 30, Shelby County, Tennessee $120,000,000, General Obligation Public Improvement and School Bonds, 2009 Series B, $60,000,000 and 2009 Series C (Federally Taxable Build America Bonds Direct Payment), Dated: September 30, Shelby County, Tennessee General Obligation Refunding Bonds, 2009 Series A, $214,695,000, Dated: April 2, Shelby County, Tennessee General Obligation Variable Rate Demand Public Improvement and School Bonds, 2006 Series B, $159,590,000, Dated: February 22, 2006 NAR Series 2017A, 2016A, 2015A, 2012AB, 2011A, 2009A, 2009BC Labor Relations Fiscal Year Ended June 30, 2017 Within the County Mayor s area of responsibility, approximately 589 employees are represented by several labor organizations including the International Brotherhood of Electrical Workers Union, Local #474, whose two memorandums of understanding (Support Services and Craft, Trade, and Labor) have been extended until March 31, 2019; the International Firefighters Association, Local #2585, whose memorandum of understanding was recently renegotiated and expires August 31, 2019; and the American Federation of State, County and Municipal Employees, Local #1733 for Correction Officers agreement has been extended until September 30, Within the County Sheriff s area of responsibility, approximately 458 employees are represented by the Deputy Sheriff s Association, Local #58. This agreement was extended to August 31, 2015, by agreement but has not been extended or renegotiated since so it is in automatic annual renewal. Approximately 720 Deputy Jailers are represented by AFSCME #1733 whose memorandum was extended until December 31, 2015 and has been unilaterally extended. A unit of approximately 70 employees in Records and Information, and Maintenance is represented by IBEW #474 and has a memorandum of understanding, which has been extended until March 31, 2019.

2 Series 2012AB, 2011A, 2009A, 2009BC, 2009AB Summary of Audited General Fund Balances Fiscal Year Ended June 30 Beginning Fund Balance Revenue Expenditures Other Financing Sources (Uses) Ending Fund Balance 2017 FY17 CAFR (Pg C 8) Series 2012AB, 2011A, 2009A, 2009BC, 2009AB Analysis of Value of Taxable Property As of June 30, 2017 Appraised Value Assessed of Taxable Prop Percent of Total Valuation Percent of Total Real Estate Residential & Farm (25%) $ 38,347,961,500 63% $ 9,586,990,375 53% Commercial & Industrial (40%) $ 14,381,679,700 24% $ 5,751,939,895 32% Multiples $ 584,797,600 1% $ 71,531,420 0% Personal Property Commercial, Industrial & Farm (30%) $ 4,859,871,800 8% $ 1,457,984,670 8% Intangibles $ 1,009,800 0% $ 403,920 0% Public Utilities Real and Personal Local (55%) $ 5,477,700 0% $ 3,012,735 0% Privately Owned State $ 2,238,168,062 4% $ 1,230,992,434 7% Total $ 60,418,966, % $ 18,102,855, % FY17 CAFR (Pg G 10)

3 Series 2017A, 2016A, 2015A, 2012AB, 2011A, 2009A, 2009BC Long Term Debt Summary As of June 30, 2017 Shelby County Direct GO Bonded Debt $ 895,514,999 FY17 CAFR (Pg D 24) Other Obligations 94,231,533 Total Direct GO Bonded Debt and Other Obligations 989,746,532 FY17 CAFR (Pg G 15) Underlying Bonded Debt 1,678,327,258 FY17 CAFR (Pg G 15) Total Direct and Underlying Bonded Debt and Other Obligations $ 2,668,073,790 FY17 CAFR (Pg G 15) Series 2017A, 2016A, 2015A, 2012AB, 2011A, 2009A, 2009BC Contracts and Other Long Term Obligation Fiscal Year Ended June 30, 2017 Leases Arena Electrolux (Port Commission Bonds) Qualified School Construction Bonds Interest Rate Swaps Compensated Absence Liabilities FY17 CAFR (Pg D 22) FY17 CAFR (Pg D 33) FY17 CAFR (Pg D 24) FY17 CAFR (Pg D 24) FY17 CAFR (Pg D 25) FY17 CAFR (Pg D 8) Series 2017A, 2016A, 2015A, 2012AB, 2011A, 2009A, 2009BC Debt Ratios As of June 30, 2017 Debt % Debt % Debt Per Assessed Appraised Capita Valuation Valuation Total Countywide Bonded Indebtedness Total Direct GO Bonded Debt $ % 1.48% Total Direct GO Bonded Debt and Other Obligations $1, % 1.64% Total Direct GO Bonded Debt, Other Obligations and Underlying Bonded Debt $2, % 4.42% Shelby County Population 934,603 FY17 CAFR (Pg G 17) 2017 Assessed Valuation: $ 18,102,855,449 FY17 CAFR (Pg G 10) 2017 Appraised Valuation: $ 60,418,966,162 FY17 CAFR (Pg G 10)

4 Long Term Debt Service Requirements As of June 30, 2017 Existing Debt Service This Issue Existing & New Debt Service Principal Principal Interest Total Principal Interest Total Principal Interest Total Total Retire 2017 FY17 CAFR (Pg D 25) Total % Of Tax Rate Distribution Fiscal Year Ended June 30, General Government Schools Principal and Interest Total Direct Tax Rate Special General Obligation School Bonds Total Tax Rate 2017 FY17 CAFR (Pg G 11)

5 Ten Largest Taxpayers 2017 Assessments FY17 CAFR (Pg G 12) Taxpayers Balance of Assessed Valuation Total Assessed Valuation Assessment Percent of Total Series 2012AB, 2011A, 2009A, 2009BC, 2009AB Local Tax Revenues by Source Property Tax $ 764,220,037 Interest and Penalties 7,877,979 Receipts in Lieu of Taxes 22,057,075 General Sales Tax 4,423,336 Beer Sales Tax 974,313 Alcoholic Beverage Tax 37,767 Gross Receipts Tax 16,049,072 Hotel Motel Tax 17,112,662 Car Rental Tax 2,249,924 Uptown Redevelopment 1,177,118 Rural School Bonds 39,908 Wheel Tax 33,873,450 Other Taxes 3,304,557 Total $ 873,397,198 FY17 CAFR (Pg C 9)

6 Series 2012AB, 2011A, 2009A, 2009BC, 2009AB Percentage of Local Tax Revenues by Source Property Tax 87.50% Interest and Penalties 0.90% Receipts in Lieu of Taxes 2.53% General Sales Tax 0.51% Beer Sales Tax 0.11% Alcoholic Beverage Tax 0.00% Gross Receipts Ta 1.84% Hotel Motel Tax 1.96% Car Rental Tax 0.26% Uptown Redevelopment 0.13% Rural School Bonds 0.00% Wheel Tax 3.88% Other Taxes 0.38% Total % Property Tax Levies and Collection Fiscal Year Collected within the FY of Levy Ended Original Taxes % of Subsequent Adjsuted % of % of June 30, Tax Year Levied for FY Amount Original Levy Years Tax Levy Amount Adjusted Levy Original Levy $791,094,783 $761,608, % N/A $787,557,182 $761,608, % 96.27% FY17 CAFR (Pg G 13) Collection in Total Collections to Date Assessed and Estimated Value of Taxable Proper Total Taxable Estimated Assessed Residential Commercial Personal Assessed Total Direct Actual Taxable Value as a % Fiscal Year Tax Year Property Proeprty Property Public Utilities Value Tax Rate Value of Actual Value $9,658,521,795 $5,751,939,895 $1,461,401,325 $1,230,992,434 $18,102,855, $60,418,966, % FY17 CAFR (Pg G 10)

7 Series 2017A, 2016A, 2015A, 2012AB, 2011A, 2009BC, 2009A, 2009AB Underlying Debt City of Memphis City of Germantown City of Bartlett City of Collierville City of Lakeland Town of Arlington Town of Millington Total FY17 CAFR (Pg G 15) Series 2012AB, 2011A, 2009A, 2009BC, 2009AB Computation of Debt Service Tax Rate Fiscal Year 2018 Total Principal, Interest & Administrative Costs Requirements $ 149,978,759 FY18 Budget p 242 Rural School Bonds Principal and Interest Requirements $ Less: Sources of funds other than current property taxes (budgeted) Delinquent Taxes 3,501,000 Litigation Taxes 850,000 Wheel Tax Exempt In Lieu of Property Tax 11,559,000 Federal Interest Reimbursement 1,109,586 1 Other Revenues 3,516,750 Operating Transfers (net) Projected Use of Fund Balance 2,183,423 22,719,759 2 Amount to be raised from current taxes $ Tax % collectio 127,259,000 1 Includes Local Sales Tax, Rental Income, Housing P&I, Interest Income 2 Tax rate allocation for Debt = $.78 per FY17 CAFR (Pg G 11)

8 Percentage of Annual Debt Service for General Bonded Debt to Total General Expenditures Total Ge ne ral % of Debt Total Governmental Service to Total Fiscal Ye ar Principal Inte re st Debt Service Expenditures Expenditures 2017 $92,084,052 $55,225,386 $147,309,438 $1,202,828, % FY17 CAFR (Pg C 9) Principal of Outstanding General Obligation Debt Fiscal Year Ended June 30 Long Term Debt: General Obligation School Bonds Total GO Indebtedness 2017 FY17 CAFR (Pg D 24) Percentage of General Bonded Debt to Appraised and Assessed Value Fiscal Year Ended June Long term Debt: Appraised property valuation $ 60,418,966,162 FY17 CAFR (Pg G 10) Assessed valuation $ 18,102,855,449 FY17 CAFR (Pg G 10) Total general obligation debt $ 989,746,532 FY17 CAFR (Pg D 24) Less: Self Supporting debt $ Net Debt $ 989,746,532 Total G.O.bonded debt to appraised 1.64% Net bonded debt to appraised valuation 1.64% Total G.O.bonded debt to assessed 5.47% Net bonded debt to assessed valuation 5.47% Shelby County Post Employment Trust Funds/ Retirement System Statement of Plan Net Assets FY17 CAFR (Pg E 19) Statement of Changes in Plan Net Asset FY17 CAFR (Pg E 20)

9 Budget for Fiscal Year ending June 30, 2018 General Fund Revenue FY 2018 Property Taxes $ 270,997,000 Other Local Taxes 33,349,000 State Revenue 23,426,820 Federal and Local Revenue 9,802,419 Charges for Services 3,025,622 Fines, Fees and Permits 68,350,400 Other Revenue 1,214,500 Investment Income 1,218,500 Total Revenue $ 411,384,261 General Fund Expenditures General Government 24,694,936 Planning & Development 391,580 Public Works 25,471,999 Health Services 29,974,186 Hospitals (Regional One) 28,408,000 Community Services 9,123,712 Sheriff 178,052,557 Judicial 69,931,843 Other Elected Officials 33,242,260 Total Expenditures $ 399,291,073 Other Financing Sources (Uses) Transfers In 1,136,514 Transfer Out (16,768,461) Other Sources Sale of Capital Assets 200,000 Insurance Recoveries Total Financing Sources (15,431,947) Net Change in Fund Balance $ (3,338,759) General Fund Revenues, Expenditures, and Changes in Fund Balance FY17 CAFR (Pg C 8) Special Revenue Funds Revenues, Expenditures, and Changes in Fund Balances FY17 CAFR (Pg E 4) Debt Service Fund Revenues, Expenditures, and Changes in Fund Balances FY17 CAFR (Pg C 8)

10 The Memphis and Shelby County Sports Authority, Inc, TN Obligations related to Shelby County Only 1 The Memphis and Shelby County Sports Authority, Inc. Revenue Refunding Bonds, 2009 Series A (Memphis Arena Project), $69,150,000 Dated: July 9, The Memphis and Shelby County Sports Authority, Inc. Revenue Refunding Bonds, 2009 Series B (Memphis Arena Project), $75,700,000 Dated: July 9, The Memphis and Shelby County Sports Authority, Inc. Revenue Refunding Bonds, 2007 Series C (Memphis Arena Project), $28,935,000 Dated: April 3, The Memphis and Shelby County Sports Authority, Inc. Revenue Refunding Bonds, 2007 Series D (Memphis Arena Project), $28,525,000 Dated: April 3, The Memphis and Shelby County Sports Authority, Inc., $129,875,000 (consisting of) Variable Rate Demand Revenue Refunding Bonds, 2007 Series A (Memphis Arena Project), $69,150,000; Variable Rate Demand Revenue Refunding Bonds, 2007 Series B (Memphis Arena Project), $60,725,000 Dated: April 3, 2007 NAR 6 The Memphis and Shelby County Sports Authority, Inc. Junior Subordinate Lien Revenue Bonds, 2002 Series D (Memphis Arena Project), $2,699, and 2002 Series E (Memphis Arena Project), $1,300,890.80, Dated: May 29, 2002 NAR 7 The Memphis and Shelby County Sports Authority, Inc. Subordinate Lien Revenue Bonds, 2002 Series C (Memphis Arena Project), $18,535,000 Dated: May 29, 2002NAR Series 2009AB, 2007CD Schedule of Historic Collection of Non Ad Valorem Revenues County of Shelby FY2017 CAFR (Pg. G 14) FY 2017 Annual Local Taxes Annual Local Revenue Annual State Revenues Annual Fees of Elected Officials Other Revenues Grand Total

11 Memphis and Shelby County Port Commission, TN 1 Memphis and Shelby County Port Commission Development Revenue Bonds, Series 2011, $40,795,000 Dated: September 7, 2011 Series 2011 Schedule of Historic Collection of Non Ad Valorem Revenues County Fiscal Year Ended June 30, FY2017 CAFR (Pg. G 14) 2017 Local Taxes State Revenue Other Government Reimbursements Charges for Services Fines, Fees and Permits Other Revenue Total Non Ad Valorem Revenues