City of Buffalo Popular Annual Financial Report Buffalo, New York • For Fiscal Year Ended June 30, 2018 About This Report Table of City of Buffalo Contents Department of auDit & Control ___ Business & Economic Development As the chief fiscal office of the City of Buffalo, we are pleased to present to you our Pages 2 - 3 Popular Annual Financial Report (PAFR) for the fiscal year ended June 30, 2018. ___ Annually, the City issues audited financial statements, known as the Comprehensive Annual Education & Financial Report (CAFR), which is prepared in accordance with Generally Accepted Culture Accounting Principles (GAAP). The CAFR contains detailed financial and disclosure information for the City that, although extremely informative, can prove challenging to Page 4 interpret for those who do not regularly review financial statements. ___ The PAFR, on the other hand, presents the financial information from the CAFR in a more Demographics concise and user-friendly format. Please note that this PAFR is unaudited and presented Page 5 on a non-GAAP basis. Only general government financial data is provided in this report. Information about component units and enterprise funds is available in the CAFR. ___ The City’s last five PAFRs received Awards for Outstanding Achievement in Popular City Annual Financial Reporting from the Government Government Finance Officers Association of the United States and Canada (GFOA). Page 6 The GFOA also awarded a Certificate of ___ Achievement for Excellence in Financial Reporting to the City for last year’s City CAFR, the twelfth consecutive year Finances Buffalo has earned that honor. Electronic copies of both the CAFR and PAFR can Pages 7 - 9 be found at our website: www.buffalocomptroller.com In addition to information about the City’s finances, this PAFR contains information about Buffalo’s governmental structure, economic progress, business climate, education system, cultural attractions, and demographics. Thank you for your interest in our City, and we hope you enjoy this report! 1 Business & Economic Development Largest Public Companies M&T Bank Moog National Fuel Gas Gibraltar Industries Astronics Columbus McKinnon Sovran Self Storage Computer Task Group Synacor Financial Institutions, Inc. Largest Private Companies Rich Products Corporation Delaware North Basil Family Dealerships Employer Services Capitalizing on its Lake Canalside’s popularity John Danforth Co. Erie shoreline and historic has led to more than a Stampede Presentation Products significance as the western half billion dollars in Jack Hunt Coin Broker terminus of the Erie Canal, private development in Curbell Buffalo has recently made the area surrounding the Sevenson Environmental Services great strides in developing attraction. This includes Rosina Food Poducts its waterfront. HarborCenter (above, Largest Employers The centerpiece of background), where the New York State this effort is Canalside National Hockey League’s United States of America (above, foreground), a Buffalo Sabres have built Kaleida Health year-round destination a $250 million, 20-story Buffalo City School District in downtown Buffalo, facility that recently Catholic Health that attracts more than hosted the 2016 NHL M&T Bank 1.5 million visitors a year. Draft and the 2017 World University at Buffalo Explore & More Children’s Junior Championships. Tops Markets Museum, currently under Waterfront development Erie County construction, will add to has spread past downtown, Seneca Gaming the many attractions at including the Outer Harbor Canalside. and the Buffalo River. Headquartered in Buffalo M&T Bank Moog Ralph C. Wilson, Jr. foundation Delaware North announces $100 million in funding Rich Products for waterfront park and trails Labatt USA New Era Cap In 2018, the Ralph C. Wilson, Jr. Foundation announced Lactalis American Group $100 million in funding for improvements to LaSalle Park, located on Buffalo’s waterfront, as well as a shoreline Source: Buffalo Business First, trail system that connects Buffalo to Niagara Falls, NY. 2018 Book of Lists 2 Business & Economic Development $7.5 Billion in construction projects either completed or underway in the City of Buffalo since 2014 $18.1 Billion in construction projects either completed or underway in the Buffalo region since 2014 Source: Buffalo Business First Two major projects were recently completed on the Buffalo Niagara Medical Campus, bringing the total number of employees at the 120-acre site to more than 17,000. Both Kaleida Health’s $250 million Oishei Children’s Hospital (right) and the University at Buffalo’s $375 million Jacobs School of Medicine and Biomedical Sciences (above) opened for business on the campus, which is a consortium of the region’s top health care, education, and research institutions. The campus was already home to Roswell Park Cancer Institute, Buffalo General Hospital, and the Innovation Center, a business incubator. More than 130 start-up companies have been founded at the campus, capitalizing on synergy created by so many different entities on one site. 3 Education & Culture Colleges & Universities The Buffalo area is home to 21 colleges & universities, for a total of 110,000 students and 32,000 employees in higher education, creating a $3.2 billion economic impact. University at Buffalo Buffalo State College Fredonia State College Canisius College Niagara University Alfred State D’Youville College Daemen College The Buffalo area is home to world-renowned architecture, Alfred University museums, and other cultural attractions. Medaille College St. Bonaventure University Cultural Attractions: Notable Architecture: Houghton College Albright-Knox Art Gallery Darwin D. Martin House Hilbert College Buffalo History Museum (above) H.H. Richardson Towers Empire State College Burchfield Penney Arts Center Guaranty Building Villa Maria College Buffalo Philharmonic Orchestra Our Lady of Victory Basilica Erie Community College Shea’s Performing Arts Center Electric Tower Ellicott Square Building Niagara Community College Chautauqua Institute Genesee Community College Central Terminal Buffalo Zoo Jamestown Community College Graycliff Buffalo & Erie County Bryant & Stratton College Botanical Gardens (below) Kleinhan’s Music Hall Trocaire College Buffalo Museum of Science Buffalo City Hall 4 Demographics City Population (2010 census) 261,310 Occupations (2013-2017) City Population (2017 estimate) 258,612 Management, Business, Science 32.7% up 1,710 & Arts Erie County Population 923,995 Service 24.1% (2017 estimate) Sales and Office 25.3% Metropolitan area population 1,136,856 Natural Resources, 5.2% (2017 estimate) Construction, Maintenance Land area in square miles 40.38 Production, Transportation & 12.7% Persons per square mile (2010) 6,470 Material Moving Male (2017) 47.7% Class of Worker (2013-2017) Female (2017) 52.3% Private worker 80.7% Persons 65 or older (2017) 12.2% Government worker 15.7% Per Capita money income $22,294 Self-employed 3.6% (2013-2017) up $728 By Household (2013-2017) Persons below poverty level 30.9% Households 110,636 (2013-2017) down 0.3% Median Value of Owner $77,800 Speak language other than 17.6% Occupied Housing up $5,200 English (2013-2017) Median household income $34,268 Foreign-born (2013-2017) 9.5% up $1,149 Homeownership rate 41% Persons Per Household 2.26 (2013-2017) Unemployment rate Mean travel time to work 21 minutes (as of 6/18)* (2013-2017) Buffalo (metro)* 4.6% Education attainment down 0.5% (over the age of 25) New York State* 4.5% High school graduate or higher 83.9% United States** 4.0% (2013-2017) Source: U.S. Census Bureau Bachelors degree or higher 25.8% *Source: N.Y.S. Dept. of Labor (2013-2017) **Source: U.S. Dept. of Labor 5 City Government Leadership MAYOR Byron W. Brown 201 City Hall Buffalo, NY 14202 (716) 851- 4851 COMPTROLLER (Vacant) 1225 City Hall Buffalo, NY 14202 (716) 851- 5255 COMMON COUNCIL Darius G. Pridgen Council President Ellicott District (716) 851-4980 Departments David A. Rivera ADMINISTRATION, FINANCE, LAW Majority Leader POLICY, & URBAN AFFAIRS Prosecutes and defends all actions Niagara District Includes Divisions of Budget, and proceedings brought by or (716) 851-5125 Treasury, Collections, and Purchase. against the City. Also responsible for drafting and reviewing all Christopher P. Scanlon AUDIT & CONTROL contracts involving the City. President Pro Tempore Led by the Comptroller, includes PARKING South District Divisions of Accounting, Audit, and Responsible for parking meters (716) 851-5169 Investment & Debt Management. and city owned parking ramps. Joel P. Feroleto ASSESSMENT & TAXATION Responsible for the preparation and PERMITS AND INSPECTIONS Delaware District mailing of City property tax Conducted 65,500 inspections (716) 851-4553 and sewer rent bills. and 113 demolitions in 2018.* Richard A. Fontana COMMON COUNCIL POLICE DEPARTMENT Lovejoy District The legislative body of the City, which Made 12,906 arrests and enforced (716) 851-5151 also oversees the City Clerk’s office. 41,172 traffic violations in 2018.* David A. Franczyk COMMUNITY SERVICES MANAGEMENT Fillmore District Includes Divisions of Youth INFORMATION SYSTEMS (716) 851-4138 Services and Senior Services. The City’s Information Technology Joseph Golombek Jr. EXECUTIVE DEPARTMENT department provides computers North District Includes Office of Strategic and internet service. (716) 851-5116 Planning and Divisions of PUBLIC WORKS, Ulysees O. Wingo Citizen Services and Real Estate. PARKS, & STREETS Responsible for maintenance and Masten District