(July 1, 2013-June 30, 2014)
The total recommended operating budget for all funds equals $112.0 million, an increase of 4.5 percent from last year. The General Fund budget equals $67.4 million, an increase of 3.2 percent. The FY13 real property tax rate of $0.292 per $100 of assessed valuation is proposed to remain the same for FY14.
The FY14 recommended budget includes the following utility rates:
- A stormwater utility rate of $99.65 per equivalent residential unit (ERU). Each residential property will pay $99.65 or one ERU per year, and each commercial property will pay $99.65 multiplied by the number of ERUs measured on their property.
- Water usage rates of $5.05 per 1,000 gallons for the first 12,000 gallons used in the quarter, $7.27 per 1,000 gallons for the next 12,000 gallons used in the quarter, and $7.80 per 1,000 gallons for usage beyond 24,000 gallons.
- Sewer rate of $6.25 per 1,000 gallons.
- Refuse rate of $372.00 per residential property per year.
|About the Budget|
|The City of Rockville Charter requires the City Manager to submit an annual budget to the Mayor and Council at least one month before the beginning of each fiscal year. In addition to the operating budget, a five-year Capital Improvements Program (CIP) budget is presented for the Mayor and Council's consideration. The budget is approved in the form of an appropriations ordinance. The City of Rockville's fiscal year begins on July 1.|
|Homeowners' Property Tax Credit Program|
|The City of Rockville offers a supplemental credit to the State of Maryland's Homeowners' Tax Credit Program.|
|Meeting Date||Agenda Item|
|February 11, 2013||FY 2014 Budget Preview|
(will include tax assessment information)
|March 18, 2013||Presentation of Proposed Budget and Introduction of Ordinances and Resolutions|
|April 1, 2013||Public Hearing #1|
|April 8, 2013||M&C Worksession #1|
|April 15, 2013||Public Hearing #2|
M&C Worksession #2
|April 29, 2013||Public Hearing #3|
M&C Worksession #3
|May 6, 2013||M&C Worksession #4 - Final Direction to Staff|
|May 20, 2013||Budget Adoption|
Fall Mayor and Council Budget Work Sessions
|October 15, 2012||State of the FY 2014 General Fund Budget|
City Employee Compensation
|November 5, 2012||Capital Improvements Program (CIP)|
|November 19, 2012||Biennial Budgeting|
|December 3, 2012||Reducing the City Budget, What it Means to Cut Costs|
|December 10, 2012||FY 2014 Budget Preview | Video|
|December 17, 2012||City Contracting|
|January 7, 2013||Costs and Revenues Associated with New Development|
Popular Annual Financial Report (PAFR)
In order to make the financial information that is presented in the Comprehensive Annual Financial Report (CAFR) easier to read and understand, staff created the Popular Annual Financial Report (PAFR). The PAFR provides summary information based on the numbers presented in the annual CAFR and the annual operating budget. The PAFR is aimed at helping the public more easily review the City government's financial operations.
Comprehensive Annual Financial Report (CAFR)
The CAFR is an annual financial report that is prepared by Finance in accordance with generally accepted accounting principles. A CAFR has three major sections: introductory, financial and statistical, and is audited by a firm of certified public accountants. This technical report is management's representation of the City's actual finances, and is often referred to as the City's financial statements.