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Home My WebLink AboutCity of Alpharetta - Public Financial ReportPOPULAR ANNUAL FINANCIAL REPORT FOR FISCAL YEAR 2021 | 1 Governmental Structure Performance Highlights Financial Review July 1, 2020 through June 30, 2021 Popular Annual Financial Report for Fiscal Year 2021 2 | CITY OF ALPHARETTA Printed on 10% Post Consumer Recycled PaperThis document is optimized for digital viewing. Please reconsider before printing it. Cover photos courtesy of Alpharetta Convention and Visitors Bureau. On behalf of the City of Alpharetta I am pleased to present our Annual Citizens’ Report for Fiscal Year 2021. The report is designed to provide an overview of how your tax dollars have been managed and invested this year. This is your city and the money we spend are your dollars, so if you have any questions or would like more information, please let us know. Our professional staff will be happy to assist you. The year 2021 has been an extraordinary year for the City of Alpharetta in every sense of the word. As the year began, local businesses were booming. Alpharetta attracted more than 60,000 people into our office parks, hotels restaurants and shops every day Tax revenues were strong, and all of our fiscal year budget projections were in great shape. Then, in March 2020, COVID-19 changed everything. As coronavirus spread across the nation, companies told employees to work from home. Office buildings went dark. Local small businesses struggled without those thousands of extra visitors every day. Restaurants and stores closed and the sales taxes they once generated dropped sharply. Previous city revenue projections became obsolete. Immediately, our City Council and management team began working with our exceptional financial staff members to adjust for drastic budgetary changes. Since financial projections based on last year’s strong economic data were unreliable, we immediately froze many previous spending items and began identifying potential savings that would allow us to continue operating at the level our residents expect while still within the updated projections based on the economic impacts of COVID-19. Through those efforts and the dedication of every employee who adapted to the new economic realities we faced; the City of Alpharetta was able to continue providing exceptional service to our community through this extraordinary period. The people of Alpharetta can be proud that, despite unprecedented challenges, their city continued to build new parks, completed the first phase of the AlphaLoop, and opened the new Preston Ridge Community Center while still completing important road projects and providing MY FRIENDS AND NEIGHBORS MAYOR JIM GILVIN Recognition and Rankings ...................2 Our Community and Infrastructure ..............3 Business Climate .........................4 Workforce. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Financial Review of Fiscal Year 2021 .........6-11 City Departments By the Numbers .............12 Definitions of Key Terms and General Contacts + Social Media ....Inside Back Cover INSIDE much needed support for those in our community who were most affected by the coronavirus. The year 2021 has presented incredible challenges that have certainly made it an extraordinary year. Thankfully, the dedicated employees of the City of Alpharetta have been up to the challenge. Thank you to everyone who has reached out to us with a tremendous outpouring of support throughout this extraordinary year. May we all hope that the year ahead will be a little less extraordinary. POPULAR ANNUAL FINANCIAL REPORT FOR FISCAL YEAR 2021 | 1 This report is intended to increase awareness through- out the community of the financial operations of the City. As such, this report is written in a user-friendly manner that will summarize and communicate the City’s financial condition. Financial information referenced herein is sourced from Alpharetta’s audited financial statements as published in the city’s Comprehensive Annual Financial Report (CAFR) for fiscal year 2021. The 2021 CAFR was audited by Mauldin & Jenkins, LLC and has received an unmodified or “clean” audit opinion. Financial statements are presented in conformity with Generally Accepted Accounting Principles. Financial activity, as highlighted in the Financial Review section, discloses the appropriate Fund in which the detail was derived. Component units are not presented within this section. POPULAR ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED JUNE 30, 2021 STRUCTURE OF YOUR CITY GOVERNMENT CITY STAFFING 2021 . . . . . . . . . . . . .452.0 2020 . . . . . . . . . . . . .452.0 2019 . . . . . . . . . . . . .444.5 2018 . . . . . . . . . . . . .444.5 2017 . . . . . . . . . . . . .442.5 Authorized City Positions* *Full time equivalent (full time position = 1, part time position = 0.5) Public Works DepartmentPublic Safety DepartmentHuman Resources Department Recreation, Parks and Cultural Services Department City Clerk Community and Economic Development Department Municipal Judge Municipal Court City Attorney Citizens of Alpharetta Mayor and Council City Administrator Finance Department Information Technology Department MAYOR AND CITY COUNCIL Jim Gilvin 678-297-6020 JGilvin@alpharetta.ga.us Term: Jan. 1, 2020 to Dec. 31, 2023 Donald Mitchell 770-297-6003 DMitchell@alpharetta.ga.us Term: Jan. 1, 2018 to Dec. 31, 2021 Ben Burnett 770-297-6003 BBurnett@alpharetta.ga.us Term: Jan. 1, 2018 to Dec. 31, 2021 Karen Richard 770-297-6003 KRichard@alpharetta.ga.us Term: May 29, 2018 to Dec. 31, 2021 John Hipes 770-297-6003 JHipes@alpharetta.ga.us Term: Jan. 1, 2020 to Dec. 31, 2023 Jason Binder 770-297-6003 JBinder@alpharetta.ga.us Term: Jan. 1, 2020 to Dec. 31, 2023 Dan Merkel 770-297-6003 DMerkel@alpharetta.ga.us Term: Jan. 1, 2020 to Dec. 31, 2023 Brian Will 770-297-6003 BWill@alpharetta.ga.us Term: Jan. 1, 2022 to Dec. 31, 2025 Doug DeRito 770-297-6003 DDeRito@alpharetta.ga.us Term: Jan. 1, 2022 to Dec. 31, 2025 NEWEST OFFICIALS BEGINNING JAN. 1, 2022 The 2021 CAFR may be accessed through the City’s website at www.alpharetta.ga.us/government/publications/financial-reports or by contacting the Finance Department at 678-297-6094. The Government Finance Officers Association of the United States and Canada (GFOA) has given an Award for Outstanding Achievement in Popular Annual Financial Reporting (PAFR) to the City of Alpharetta for its PAFR for the fiscal year ended June 30, 2020. The award is a prestigious national honor, recognizing conformance with the highest standards for preparation of state and local government popular annual financial reports. Government Finance Officers Association Award for Outstanding Achievement in Popular Annual Financial Reporting Presented to Alpharetta Georgia For its Annual Financial Reportfor the Fiscal Year Ended June 30, 2020 Executive Director/CEO Post 1 City Council Mayor of Alpharetta Post 2 City Council Post 3 City Council Post 4 City Council Post 5 City Council Post 6 City Council Post 2 City Council Post 3 City Council 2 | CITY OF ALPHARETTA RECOGNITION RANKINGS Certificate of Achievement for Excellence in Financial Reporting for fiscal year 2020 from the Government Finance Officers Association (GFOA). Achievement of Excellence in Procurement Award for 2021 from the National Procurement Institute, Inc. Distinguished Budget Presentation Award for fiscal year 2021 from GFOA. This certification, representing superior property fire protection capabilities, is based primarily on an evaluation of the city’s water supply and distribution, fire department equipment, manpower, etc. Alpharetta is one of only 24 agencies in Georgia and 411 agencies nationwide, to receive an ISO Class 1 rating, the highest available. Insurance Services Office (ISO) Class 1 Rating Tree City USA from the National Arbor Day Foundation for the 31st consecutive year. Special Needs Certified Community from the Special Needs Certified Organization Recognizing communities that are better able to understand, engage, and serve people with special needs. PEOPLE’S CHOICE FOR THE PUBLIC REALM THE NUMBER ONE PLACE TO LIVE IN GEORGIA THE BEST SMALL CITIES TO START A SMALL BUSINESS IN 2019 TOP 50 BEST PLACES TO LIVE IN 2018 THE SOUTH’S FRIENDLIEST CITIES THE SOUTH’S BEST CITIES TO LIVE IN 2018 Alpharetta stands out from other Georgia cities for its wide variety of both indoor and outdoor attractions. Shop around one of the city’s five shopping districts, such as Downtown Alpharetta, where you’ll also find the Food Truck Alley and a Saturday farmers’ market. – Money Magazine EXCELLENCE IN TOWN CENTER DEVELOPMENT For City Center and POPULAR ANNUAL FINANCIAL REPORT FOR FISCAL YEAR 2021 | 3 Highest credit rating available. Alpharetta is one of only 221 cities nationwide to earn an AAA bond rating from Moody’s Investors Service. OUR COMMUNITY ALPHARETTA Incorporated1858 Population (nighttime)65,799 Population (daytime)122,000 Bond Rating AAA INFRASTRUCTURE ADVANTAGES Our story goes like this: During the late-90s dot-com boom, the City of Alpharetta started to grow from the ground up—literally. Hundreds of miles of fiber optic cables were buried throughout the city, and the state’s largest electricity provider, Georgia Power, took it a step further by establishing a series of redundant electric networks throughout the city. 60% Download Speeds Above U.S. Average 700+ Tech Companies 25M Total Sq. Ft. Office Space ACCESSIBILITY Because Alpharetta is just a quick drive from Atlanta, businesses are conveniently positioned right by the world’s busiest airport. And if that’s not enticing enough, there are plenty of other ways to get around whether you prefer to drive by car or ride public transit, Alpharetta makes sure businesses and their workers get to where they need to go. 22 Miles from Alpharetta to Downtown Atlanta 4 MARTA Routes to Atlanta4Major Highways GA 400 Hwy 9 Hwy Hwy 372 120 27Square Miles 4 | CITY OF ALPHARETTA BUSINESS CLIMATE LOCAL COMPANIES There’s a reason why more than 700 technology-based businesses have made their home in Alpharetta, and it’s not just the nice houses and great weather. Our fiber-optic network is the most extensive and redundant in the Southeast, and we work closely with state and local economic development agencies to provide tax credits and incentives to complement any brand of business. Some of the biggest and most recognized names in the tech industry are thriving here in Alpharetta. We could talk about Alpharetta’s exceptional business climate all day long, but nothing speaks to our success quite like our track record. Here are just a few names we’re proud to work with. FISERV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,088 ADP, INC. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,053 EQUIFAX INFORMATION SERVICES . . . . . . . . . . . . . . . . . . . 1,669 LEXIS NEXIS RISK SOLUTIONS. . . . . . . . . . . . . . . . . . . . . . 1,349 VERIZON . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,340 ERNST & YOUNG U. S. LLP . . . . . . . . . . . . . . . . . . . . . . . 1,062 GLOBAL PAYMENTS . . . . . . . . . . . . . . . . . . . . . . . . . . 1,000 JACKSON HEALTHCARE . . . . . . . . . . . . . . . . . . . . . . . . . .906 UPS SUPPLY CHAIN SOLUTIONS . . . . . . . . . . . . . . . . . . . . . .861 HEWLETT PACKARD ENTERPRISE COMPANY . . . . . . . . . . . . . . . . .738 Employer No. of Employees TOP 10 EMPLOYERS Providing a strong economic foundation for our community, the City of Alpharetta is pleased to recognize the top 10 employers – based on the number of employees. Source: City of Alpharetta Division of Economic Development, 2021 POPULAR ANNUAL FINANCIAL REPORT FOR FISCAL YEAR 2021 | 5 WORKFORCE COMPETITIVE EDGE Every business on the planet, from Mom & Pop stores to Fortune 500 companies, is only as good as its employees. And in Alpharetta, we’re proud to be home to some of the smartest minds in the world of tech. 65.0 percent of Alpharetta’s residents own a bachelor’s degree or higher, which is nearly double the national average for young adults. And there are plenty of them, too. With a daytime population over 122,000, Alpharetta boasts 4,632 workers per square mile; that’s more than major metropolitan areas like Denver, Houston, Charlotte, Nashville, Austin, and even Atlanta. 26.4% Graduate or Professional Degree 64.6% Bachelor’s Degree 6.6% Associate’s Degree PROFESSIONS Need more proof that Alpharetta is a rising hub in the business world? Consider that 82% of Alpharetta residents are employed in professional, managerial, technical, sales and administrative positions. Our citizens don’t just have degrees—they’ve got the experi- ence and working knowledge needed to take any business to the next level. 20% Individuals Earn $100K or More 82% Employed in Professional/ Technical Sector 66K Total City Population EDUCATION When it comes to college degrees, our workforce has credentials that are hard to compete with. No matter what heights our busi- nesses desire to reach, our workers come equipped with the invaluable knowledge it takes to get there. PERSONNEL Alpharetta’s consistent population nearly doubles during the day. That means that employees are coming from throughout the region to work for Alpharetta’s rising tech companies. With great accessibility and a superior quality of life, it’s no wonder we’re the 6th fastest-growing city in the nation, and it’s getting better every day. 122K Daytime Population 1M People With 30-Minute Drive Time 4,632 Workers Per Square Mile Top City in the Nation For Health IT The Best Small Cities to Start a Small Business 6 | CITY OF ALPHARETTA 2022202120202019201820172016201520142013 5.75 5.75 5.75 5.75 5.75 5.75 5.755.75 5.755.75 202120202019201820172016201520142013 2022 $5.45$5.38 $4.13 $4.09 $4.76 $4.08 $4.53 $4.60 $5.51 $5.76 PROPERTY TAXES The City of Alpharetta has historically acknowledged the need to provide a taxation rate commensurate with the government’s level of service. Over the last ten years, the city has experienced significant growth in its population, service delivery responsibilities, and tax base. As the tax base has grown, the city’s fiscally conservative, long-term approach to government has invested those funds in expansion of service delivery capabilities including infrastructure, technology, equipment, etc. The adopted property tax rate for calendar year 2021 (fiscal year 2022) totals 5.75 mills. To maintain Alpharetta as an affordable place to live and retire, the City offers multiple homestead exemptions that save our homeowners over $5 million annually. Where Does My Property Tax Dollar Go? Property Tax Base 5.75 mills 2 Property Tax Rate (Millage Rate) Tax Base Segmentation ResidentialCommercial Residential ........ 41% Commercial ....... 59% Annual Taxpayer Savings 2. Includes 4.935 mills for Operations and 0.815 mills for Debt Service on voter-approved Bonds. $5.76 billion 1 1. Includes taxable values from the following property types: Real, Personal, and Motor Vehicles. • Floating Homestead exemption that caps the taxable value growth of homesteaded properties to the lesser of 3% or CPI; • Basic Homestead exemption of $45,000 which is among the highest in the State; • Senior Basic Homestead exemption of $25,000 for residents aged 65 and older; and • Senior Full-Value Homestead exemption available to residents aged 70 and older who meet certain income requirements. Homestead Exemptions Floating Homestead Exemptions Homestead Exemptions .....60% Floating Homestead Exemptions .....40% $5.5 million The City’s Exemptions Fulton County School District 54¢29¢17¢ Fulton County (Operations and Debt Service) City of Alpharetta POPULAR ANNUAL FINANCIAL REPORT FOR FISCAL YEAR 2021 | 7 FINANCIAL REVIEW OF FISCAL YEAR 2021 The Financial Review section is designed to provide details on the financial health and stability of the City of Alpharetta. Included within this section are discussions of major revenue sources and major expenditure allocations, analysis of fund balances, analysis of net position, significant financial trends, etc. The tables below depict the sources of revenues and expenditures for the government on a fund-level basis of accounting, highlight- ing how the government received its funding and where the funds were spent. Fiscal years 2019-2020 are presented to highlight financial trends. During fiscal year 2021, the city’s governmental funds reported a combined ending fund balance of $95.5 million which represents an increase of $2.6 million over the prior year. Please refer to pages 8–9 for a narrative on revenue and expenditure variances. The city’s proprietary funds reported a combined ending net position of $1.9 million which represents a decrease of $359,963 over the prior year due to multiple causes including growth in risk management claims. FY 2021 FY 2020 FY 2019 Revenues: Property Taxes $34.5 $33.0 $31.5 Sales and Use Taxes 29.1 26.9 28.1 Other Taxes 20.8 22.7 24.7 Licenses and Permits 3.1 3.3 4.2 Charges for Services 7.8 6.6 7.3 Impact Fees 2.1 0.9 1.0 Fines and Forfeitures 1.7 1.9 2.2 Intergovernmental 15.3 6.2 4.7 Contributions and Donations 0.5 0.3 0.5 Investment Earnings 0.2 2.0 2.5 Other Revenues 4.3 0.2 0.1 Total Revenues: $119.2 $104.00 $106.9 Expenditures: General Government $10.1 $10.5 $10.0 Public Safety 32.9 32.9 31.7 Public Works 17.2 15.2 12.3 Community Development 5.6 7.3 7.2 Culture and Recreation 8.9 9.5 9.9 Capital Outlay 36.0 31.6 22.6 Debt Service 7.3 7.8 7.5 Total Expenditures: $118.1 $114.8 $101.2 Excess (deficiency) of Revenues over (under) Expenditures $1.1 $(10.8 ) $5.7 Other Financing Sources (Uses) $1.4 $0.6 $0.1 Net Changes in Fund Balances $2.6 $(10.3 ) $5.8 Beginning Fund Balances $92.9 * $103.1 $97.3 Ending Fund Balances $95.5 $92.8 $103.1 Governmental Funds (e.g. General Fund, E-911 Fund, etc.) Figures presented in millions. Totals subject to rounding. FY 2021 FY 2020 FY 2019 Operating Revenues: Charges for Services Refuse Collection Charges $4.3 $4.2 $4.1 Risk Management Charges 1.5 1.5 1.4 Medical Insurance Fund Charges 7.9 7.6 7.1 Other Revenues 0.1 0.1 0.1 Total Operating Revenues: $13.9 $13.4 $12.8 Operating Expenses: Program Administration $4.8 $4.4 $4.3 Claims and Judgments 6.8 6.1 5.7 Premiums 2.6 2.4 2.3 Total Operating Expenses: $14.2 $12.9 $12.3 Operating Income (Loss) $(0.4 ) $0.5 $0.5 Non-Operating Revenues — $0.1 $(1.4 ) Changes in Net Position $(0.4 ) $0.6 $(0.9 ) Beginning Net Position $2.3 $1.7 $2.6 Ending Net Position $1.9 $2.3 $1.7 Proprietary Funds (e.g. Solid Waste Fund, Risk Management Fund, etc.) Figures presented in millions. Totals subject to rounding. Sources: City of Alpharetta, Comprehensive Annual Financial Report for the respective Fiscal Year Statement of Revenues, Expenditures & Changes in Fund Balances (Governmental Funds) City of Alpharetta, Comprehensive Annual Financial Report for the respective Fiscal Year Statement of Revenues, Expenditures & Changes in Net Position (Proprietary Funds) * Beginning Fund Balance for FY 2021 has been restated to reflect the inclusion of the Alpharetta Development Authority as a Blended Component Unit (previously reported as a Discretely Presented Component Unit). 8 | CITY OF ALPHARETTA GOVERNMENTAL FUND REVENUES The City of Alpharetta maintains 13 individual governmental funds. The governmental funds reflect the city’s basic services, including public safety, public works, culture and recreation, community development, general government, etc. For the fiscal year ended June 30, 2021, the city’s revenues for all governmental funds totaled $119 million and represents an increase of $15 million over fiscal year 2020. Major revenue variances include the following: increase of $1.5 million in Property Taxes due to a combination of general growth in the property tax base coupled with new construction; increase of $2.2 million in Sales and Use Taxes due to increased economic activity compared to 2020 which was severely impacted by the COVID-19 pandemic; increase of $9.1 million in Intergovernmental revenue due primarily to capital funding contributions (e.g. grants, reimbursements from Fulton County for water/sewer improvements, etc.); increase of $4.1 million in Other Sources due primarily to a revenue recapture from the recent Alpharetta Convention Center Hotel sale; decrease of $1.9 million in Other Taxes due primarily to lingering effects of the COVID-19 pandemic on our hospitality industry (hotel taxes); etc. The following section provides a brief description of the city’s revenue sources by category: $119 Million in Governmental Fund Revenues Property Taxes: 29% Taxes collected from property owners based upon an assessed valuation and tax rate. The dollar amount received is to be used to fund governmental services and debt service on voter approved general obligation bonds. Sales and Use Taxes: 24% Taxes imposed on the purchase, sale, rental, storage, use, or consumption of tangible personal property and related services. Specifically represents the city’s portion of the: (a) 1% sales and use tax collected in Fulton County; and (b) 0.75% sales and use tax earmarked towards transportation improvements. Fees collected for general government services and includes emergency 911 fees, recreation activity fees, planning and development fees, etc. Charges for Services: 7% Other Sources: 10% This category includes the sources of Licenses and Permits, Impact Fees, Fines and Forfeitures, Intergovernmental, Contributions and Donations, Investment Earnings, etc. Other Taxes: 17% Represents various other taxes such as franchise fees, insurance premium taxes, alcohol beverage excise taxes, hotel/motel taxes, etc. Intergovernmental: 13% Revenues from other governments in the form of grants, contributions, shared revenues, etc. POPULAR ANNUAL FINANCIAL REPORT FOR FISCAL YEAR 2021 | 9 GOVERNMENTAL FUND EXPENDITURES For the fiscal year ended June 30, 2021, the city’s expenditures for all governmental funds totaled $118 million and represents an increase of $3 million over fiscal year 2020. Major expenditure variances include the following: increase of $4.4 million in Capital Outlay; increase of $2 million in Public Works due primarily to T-SPLOST related transportation improvement capital expenses; decrease in Community Development of $1.7 million due predominantly to lingering effects of the COVID-19 pandemic on our hospitality industry which lowered hotel taxes and their associated pass-thru remittances to the city and the Alpharetta Convention and Visitors Bureau; etc. The following section provides a brief description of the city’s expenditures by function: Expenditures incurred in providing cultural and recreational services as well as capital investment. Culture and Recreation: 7% Other Services: 15% This category includes the functions of General Government, Intergovernmental, and Debt Service. The largest component, General Government, represents expenditures incurred for general administrative offices including the Mayor and City Council, City Administration, Finance, Human Resources, Information Technology, etc. Public Works: 15% Expenditures incurred in providing engineering, transportation, and public works services as well as capital investment. $118 Million in Governmental Fund Expenditures Expenditures incurred in providing community development, permitting, and inspection services. Community Development: 5% Public Safety: 28% Expenditures incurred for public safety activities including police and fire services. Capital Outlay: 30% Expenditures incurred for capital improvements throughout the city (please refer to page 11 for detailed information on our capital investment activities). 10 | CITY OF ALPHARETTA NET POSITION AND FUND BALANCE Over time, the increases or decreases in net position may serve as a useful indicator of the city’s financial position and stability. For fiscal year ended June 30, 2021, the City of Alpharetta’s net position totaled $310 million with the breakdown as follows: Net Investment in Capital Assets (73% or $227.1 million) The portion invested in capital assets (e.g., land, buildings, infrastructure, machinery, and equipment); less any related debt used to acquire said assets that is still outstanding. Capital assets are used to provide services to citizens; consequently, these assets are not available for future spending. Restricted Net Position (14% or $44.5 million) The portion restricted for specific uses (e.g. debt service, capital projects, law enforcement, and emergency telephone activities). Unrestricted Net Position (13% or $38.5 million) The portion which may be used to meet the government’s ongoing obligations to its citizens and creditors. Source: City of Alpharetta, Comprehensive Annual Financial Report for the respective Fiscal Year Statement of Net Position Net Investment in Capital Assets Restricted Net Position Unrestricted Net Position $0 $25 $50 $75 $100 $125 $150 $175 $200 $225 $250 $275 $300 $325 FY 2021FY 2020FY 2019FY 2018FY 2017 156.7 60.1 33.1 $249.9 227.1 44.5 38.5 $310.1 207.6 21.8 28.0 $257.4 214.3 31.7 26.1 $272.2 223.8 40.0 21.4 $285.2 FUND BALANCE OF THE GENERAL FUND A key measure of the City of Alpharetta’s overall financial health is the fund balance. For fiscal year ended June 30, 2021, the city’s Fund Balance for the General Fund totaled $35.7 million and can be further segmented as follows: Assigned Fund Balance (16% or $5.8 million) This balance represents appropriations included in the fiscal year 2021 budget for pay-as-you-go capital projects and one-time, non-recurring expenditures. Unassigned Fund Balance (84% or $29.8 million) This balance represents approximately 40% of fiscal year 2022 budgeted expenditures. By ordinance, the city has mandated that such balance not be less than 16% of budgeted expenditures. This requirement allows the city to maintain an adequate reserve to cover unforeseen emergen- cies and/or revenue shortfalls. Historically, when budgeting, the City has set the minimum for the emergency reserve at a level in excess of the ordinance requirement. For fiscal year 2021, the emergency reserve requirement totals 25% which equates to $17.2 million. The surplus after such emergency reserve and other allowances will enable the City to fund one-time future capital in the amount of $12.6 million as part of the annual budget to be developed for fiscal year 2023. $0 $10 $20 $30 $40 FY 2021FY 2020FY 2019FY 2018FY 2017 19.6 8.9 18.5 6.1 21.3 5.3 $28.5 $24.6 $26.6 29.8 5.8 $35.7 22.3 5.5 $27.8 Assigned Fund Balance Unassigned Fund Balance In $Millions (figures subject to rounding) Source: City of Alpharetta, Comprehensive Annual Financial Report for the respective Fiscal Year Balance Sheet (Governmental Funds) In $Millions (figures subject to rounding) POPULAR ANNUAL FINANCIAL REPORT FOR FISCAL YEAR 2021 | 11 CAPITAL IMPROVEMENT PROJECTS Substantial investments in community/ capital improvements are made each year. The chart to the left depicts a 5-year history of expenditures to purchase, construct, and renovate the capital assets and infrastructure of our city. For fiscal year 2021, the City of Alpharetta’s investment in capital out- lay (parks, roadways, buildings, etc.) totaled $36 million, demonstrating our on-going commitment to provide a quality of life that ensures the success and vitality of the area for the present and the future.$0 $4 $8 $12 $16 $20 $24 $28 $32 $36 FY 2021FY 2020FY 2019FY 2018FY 2017 $15.7 $22.6 $31.6 $36.0 $19.5 In $Millions Sources: City of Alpharetta, Comprehensive Annual Financial Report for the respective Fiscal Year, Statement of Revenues, Expenditures & Changes in Fund Balances (Governmental Funds) CAPITAL IMPROVEMENTS COMPLETED DURING FISCAL YEAR 2021 Annual Capital Projects: • Generator Replacements (various locations) • HVAC Replacements (various locations) • Roadway Milling and Resurfacing (various locations) • Roof Repair and Rehabilitation (various facilities) • Sidewalk Repair and Replacement (various locations) • Tree Planting and Landscape Improvements (various location) Drainage Improvements: • Storm Pipe Lining (various locations) • Storm Structure Repair and Maintenance (various locations) Park Improvements: • Alpha Loop – Phase A, Section 1 • Alpharetta Community Center/The Grove Concrete Replacement • Alpharetta Elementary School Park Opened • Big Creek Greenway Extension – Marconi Drive to Union Hill Park • Innovation Academy Athletic Facility Renovations Completed • Mid-Broadwell Park Construction Initiated • North Park Facilities Painting • North Park Playground Replacement • Replacement of (2) Pedestrian Bridges in Wills Park • Replacement of Retention Wall at Old Rucker Park Farm • Town Green Artifical Turf Installation • Wills Park Tennis Court Resurfacing Other Improvements: • Bethany Road at Mayfield Road Roundabout • Bethany Road at Mid Broadwell Road Roundabout • Flashing Beacons Installation at Old Milton Parkway and Marietta Street • Flashing Beacons Installation at Old Milton Parkway and Wills Park Entrance • Installation of Speed Detection Signs (various locations) • Rucker Road Corridor Improvements • State Route 9 at Marietta Street Midblock Crossing • Scramble Crosswalks at Milton Avenue and Canton Street / Roswell Street 12 | CITY OF ALPHARETTA PUBLIC SAFETY RECREATION, PARKS AND CULTURAL SERVICES COMMUNITY AND ECONOMIC DEVELOPMENT PUBLIC WORKS CITY DEPARTMENTS BY THE NUMBERS 733streetlights (city-owned/maintained) 126 signalized intersections 568 paved lane miles 26 street resurfacing (in miles) 229sidewalks (in miles) 5,024 permits issued 4,494 business licenses 1,284 code enforcement inspections performed 1 police station 1 training facility 6 fire stations 268 total staffing which includes: 108 sworn police officers 105 certified firefighters 1 fire ladder truck (in-service) 6 fire pumper trucks (in-service) 35,866 Emergency 911 Calls 6 community/art centers 1 aquatic facility 1 equestrian center 3 community agriculture venues 862 acres of parks 27 athletic fields 10playgrounds 18miles of trails 20,010 recreation program registrations38special events (city-sponsored and city-partnered) POPULAR ANNUAL FINANCIAL REPORT FOR FISCAL YEAR 2021 | 13 DEFINITION OF KEY TERMS The Fulton County Board of Assessors determines the fair market value of all real and personal property in Fulton County for property tax purposes. The Board then applies a statutory 40% to the fair market value to generate the assessed valuation on which property taxes are levied. A grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The city, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the city can be divided into three categories: governmental funds, proprietary funds, and fiduciary funds. Fund equity for governmental funds which reflects the accumulated excess of revenues and other financing sources over expenditures and other financing uses. Fund Balance can be further segmented as follows: • Assigned – Represents fund balance utilized in subsequent periods for pay-as-you-go capital projects and one-time, non-recurring expenditures. • Unassigned – Represents fund balance that is available for any purpose. However, the city has allocated this fund balance as follows: (a) The City Council adopted a minimum Fund Balance Reserve of approximately 16% for the General Fund to cover the cost of unforeseen emergencies, cover shortfalls by revenue declines, etc. In keeping with the best practices of a AAA rated city, Alpharetta currently maintains a Fund Balance Reserve of approx- imately 23%; and (b) funding for future one-time capital investment or other city initiatives. These funds are, in essence, accounting segregations of financial resources. Expendable assets are assigned to the various governmental funds according to the purposes for which they may or must be used; current liabili- ties are assigned to the fund from which they are to be paid; and the differences between governmental fund assets and liabilities is referred to as “Fund Balance”. The primary measurement focus is “flow of current financial resources”. In other words, are there more or less resources that can be spent in the near future as a result of transactions of the period? Increases in spending are reported in the operating statement as revenues or other financing sources, and decreases are reported as expenditures or other financing uses. The General Fund is the city’s primary governmental fund. The amount of property tax stated in terms of a unit of the tax base. For example, each mill generates $1.00 of tax for every $1,000 of assessed valuation on real and personal property. The millage rate is the total number of mills assessed against the assessed valuation. Total assets minus total liabilities of either the city as a whole or for a specific fund (e.g. Solid Waste Fund). These funds are used to account for a government’s on-going activities which are similar to those often found in the private sector. The primary measurement focus is the economic condition of the fund as a result of the events and transactions of the period. Events and transactions that improve the economic position are reported as revenues or gains in the operating statement. Those events and transactions that diminish the economic position are reported as expenses or losses. The difference between fund assets and liabilities is referred to as “Net Position”. ASSESSED VALUATION FUND FUND BALANCE GOVERNMENTAL FUND MILLAGE RATE PROPRIETARY FUND NET POSITION GENERAL CONTACTS + SOCIAL MEDIA Alpharetta Ambush Soccer Club www.alpharettaambush.org Alpharetta Athletic Programs 678-297-6130 www.alpharetta.ga.us/athletics Alpharetta City Band 770-475-9684 www.alpharetta.ga.us/cityband Alpharetta Convention & Visitors Bureau 678-297-2811 www.awesomealpharetta.com Alpharetta Public Safety Foundation 470-396-3173 www.apsfoundation.org Alpharetta Youth Baseball Association www.alpharettayouthbaseball.org Alpharetta Youth Softball Association www.alpharettasoftball.com Arts Alpharetta www.ArtsAlpharetta.org Fulton County Tax Assessor 404-612-6440 www.qpublic.net/ga/fulton North Atlanta Football League www.nafl.club North Metro Miracle League 770-777-7044 https://www.nmml.net Alpharetta on Twitter https://twitter.com/AlpharettaGov Alpharetta Parks on Twitter https://twitter.com/AlpharettaParks Alpharetta Parks on Instagram https://www.instagram.com/AlpharettaParks Alpharetta Arts Center on Instagram https://www.instagram.com/AlpharettaArtCenter Alpharetta on YouTube https://www.youtube.com/user/AlpharettaGov City of Alpharetta Main Facebook Page https://www.facebook.com/CityofAlpharetta Alpharetta Natural Resources Commissions Facebook Page https://www.facebook.com/AlpharettaNaturalResources Alpharetta Public Safety Facebook Page https://www.facebook.com/AlpharettaDPS Alpharetta Recreation and Parks Facebook Page https://www.facebook.com/AlpharettaRecreation City of Alpharetta 678-297-6000 www.alpharetta.ga.us 14 | CITY OF ALPHARETTA 2 Park Plaza Alpharetta, GA 30009