Downtown Business Overlay Taxing District

DOWNTOWN BUSINESS OVERLAY TAXING DISTRICT FUND

DESCRIPTION

The Downtown Business Overlay Taxing District (DBOD) is a special fund created by the City to foster economic development in downtown Suffolk. A specific additional real estate tax levy is assessed on properties in the DBOD. Revenues provide funding for enhanced beautification, refuse, sidewalk, and street maintenance services. The proposed FY 2022-2023 real estate tax rate is $.105 per $100 of assessed value for the DBOD.

Real Property Taxes Penalties and Interest Interest on Investments

Total Revenue

Expenditure Summary

Total Expenditures

Actual Actual Budget YTD to Dec Requested Chng Recommended Chng

$ 192,248 $ 188,880 $ 174,091 $ 83,253 48% $ 174,000 0% $ 190,421 9% (110) 3,753 (47) 518

$ 195,891 $ 189,352 $ 174,091 $ 83,253 48% $ 174,000 0% $ 190,421 9%

2019-2020 2020-2021 2021-2022 2021-2022 2022-2023 % 2022-2023 %

Actual Actual Budget YTD to Dec Requested Chng Recommended Chng

$ 158,254 $ 165,941 $ 174,091 $ 81,007 47% $ 174,000 0% $ 190,421 9%

$ 158,254 $ 165,941 $ 174,091 $ 81,007 47% $ 174,000 0% $ 190,421 9%

Account Number: 2092019-2020 2020-2021 2021-2022 2021-2022 % 2022-2023 % 2022-2023 %

Actual Actual Budget Exp to Dec Exp Requested Chng Recommended Chng

41310-53000.02 Purchased Service - RM (Maintenance, Sweeping)$ 57,497 $ 57,493 $ 57,500 $ 40,465 70% $ 57,500 0% $ 64,500 12% 41310-53000.46 Purchased Service - RM Banners 10,168 7,781 6,000 2,175 36% 5,000 -17% 7,000 17% 41310-53100 Professional Services 31,813 41,572 51,091 1,374 3% 52,000 2% 52,000 2% 41310-55100 Utilities 777 1,095 1,500 296 20% 1,500 0% 1,921 28% 42310-53000.16 Purchased Service - Refuse Fund 57,998 58,000 58,000 36,697 63% 58,000 0% 65,000 12%

Total Operating Expenditures

$ 158,254 $ 165,941 $ 174,091 $ 81,007 47% $ 174,000 0% $ 190,421 9%

53100 - Professional Services: Provides for beautification and landscape services.