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CC 2013-05-20_05.a. Budget PresentationBIENNIAL BUDGET REPORT Fiscal Year 2013-14/ FY 2014-15 1 OVERVIEW Good News: FY 2012-13 Projected Revenues Exceed Expenditures Bad News: Remaining Shortfall Good News: Decreased Shortfall Addresses Goals Approved by Council Maintains Service Levels No Increases for Service and Supplies Minimized Capital Purchases 2 BUDGET TOTALS Total FY 2013-14 $23,955,695 Total FY 2014-15 $23,009,212 Total General Fund FY 2013-14 $13,608,385 Over 2.5% decrease .2% decrease when considering one-time revenues and expenditures Total General Fund FY 2014-15 $14,029,090 Slightly over 3% Less than 2% when considering one-time revenues and expenditures General Fund Balance Projected to Exceed 20% 3 BUDGET TOTALS 4 GENERAL FUND REVENUES Property Tax Over 5.5% drop in FY 2012-13 with one-time revenues Projected to level off in FY 2013-14 2% in FY 2014-15 Sales Tax 3.5% increase in FY 2012-13 2% increase projected in FY 2013-14 and FY 2014-15 TOT 20% increase in FY 2012-13 due to Hampton Inn Projected to level off in FY 2013-14 2% increase projected in FY 2014-15 5 GENERAL FUND REVENUES 6 SEWER FUND FY 2013-14 Revenues: $1,036,000 Expenditures: $981,280 Fund Balance: $686,281 FY 2014-15 Revenues: $1,056,000 Expenditures: $939,820 Fund Balance: $802,461 Meets Fund Balance Goal for First Time Funds Sewer Master Plan Projects 7 WATER FUND FY 2013-14 Revenues: $4,083,600 Expenditures: $3,820,245 Fund Balance: $12,497,578 FY 2014-15 Revenues: $4,083,600 Expenditures: $3,893,575 Fund Balance: $12,687,603 Meets Fund Balance Goal Funds Water Master Plan Projects 8 GENERAL FUND BUDGET SHORTFALLS FY 2013-14: $195,245 FY 2014-15: $155,070 Labor Negotiations Cost Savings Measures Goal to Balance Budget During Fiscal Year 9 BUDGET GOALS Brisco Interchange Pavement Management Sidewalk Repairs Police Department Facility Needs Corporation Yard Facility Needs Water Supply and Conservation City Charter Planning Process Customer Service 10 BUDGET GOALS Replacement of Network Servers Replacement of Phone System Update of Land Use Element 11 AFFORDABLE HEALTH CARE ACT Medical Plan for Employees 30+ Hours Methodology for Positions Covered Positions needed to maintain service levels Positions proposed to remain part-time long-term Positions Covered Public Works Custodial Maintenance Worker Police Department Reserve Officer Detective Planning Assistant 2 Community Development Office Assistants 3 Children in Motion Head Teachers Fire Department Still Under Review 12 CAPITAL IMPROVEMENT PROGRAM Le Point Street Parking Lot Car Corral ADA Improvements Traffic Signal Don Roberts Field Lights East Grand Avenue Undergrounding Utilities Sewer Lift Station No. 4 Rehabilitation Fair Oaks Water Main Improvements Leanna Drive Creek Crossing Water Upgrade Well No. 11 Construction Reservoirs No. 3 and No. 4 Coating/ Seismic 13 LONG RANGE FINANCIAL PLAN Preliminary Modest Revenue Increased/ Reduced out Years Pension Plan Increases Modest Salary Increases Capital Equipment Replacement Limit Local Sales Tax funds to Prior Approval Local Sales Tax Meets Long-Term Needs Balanced and Increased Reserves Need to Further Increase Reserves Based on balancing first two years 14 Questions? 15