Joint Comprehensive Financial Study Washington TownshipCity of Centerville

1
Joint Comprehensive Financial StudyWashington
Township/City of Centerville

• Presented By
• Steen Company
• Certified Public Accountants
• Business and Government Consultants

2
Scope of Services

• Steen Company compiled, reviewed, and analyzed
  various information and data for both Washington
  Township and the City of Centerville including
  audited financial statements, comprehensive
  annual financial reports (CAFR), popular annual
  financial reports (PAFR), and annual budgets.
• We also received detailed and summary reports
  produced by the Township and City including cash
  and investment reconciliations, asset inventory
  listings, accrued liabilities, compensated
  absences, etc.

3
Resources Peers

• Demographics from U.S. Census Bureau
• Township and City financial data
• Peer Communities
• City of Dublin, Ohio
• City of Hilliard, Ohio
• City of Kettering, Ohio
• City of Upper Arlington, Ohio

4
Assets
5
Assets (contd)
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Total Assets

• Washington Township Centerville
• Total Assets 53,039,761 53,707,228

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Liabilities
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Estimated Equity
Washington Township Centerville Estimated
Equity 42,320,970 32,787,285
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Yankee Trace Golf Course
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Income Tax

• Our Scope
• Conduct a high level analysis of potential
  income tax revenues as a result of a combined
  government of the Township and the City.

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Income Tax

• Assumptions
• Approach
• Challenges

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Income Tax

• Challenges to Estimating Income Tax Revenue
• Total number of township residents with earned
  income that are not currently paying income tax
  to another municipality.
• Total number of township residents who are paying
  income tax to another municipality at a rate the
  same as, or higher than, the City of Centerville.
• Total number of township residents who may be
  paying tax to another municipality at a rate
  lower than Centervilles 1.75.
• Total number of people working within Washington
  Township who also reside in the Township or
  another area not subject to municipal income tax.
• Total number of businesses located within the
  Township that would become subject to a tax on
  net profits.
• Confidential nature of business and individual
  income.

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Income Tax

• Conclusion
• The best estimate of potential income tax revenue
  would be to conduct a survey of residents and
  businesses in Washington Township, but a survey
  is still subject to overall public participation,
  over/under reporting, errors and omissions.

14
Human Resources

• Organizational Structures
• Current assessment
• Organizational chart as a management tool
• HR Operations
• FTE per 1,000 residents
• Spending per FTE
• Ratio Analysis
• Spending per capita

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Conclusions and Questions

• Thank you!