HomeMy WebLinkAbout04 11 2016 2017 Budget Work Session Slides Presentation4/11/2016
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April 11, 2016
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2015 Financial Review
Pay 2017 Property Values
Tax Levy Components
Budget Strategies
Agenda
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Key Points
Revenues exceeded expenditures by
$348,184
Expenditures equaled 95.8% of budget
2015 General Fund
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Budget to Actual
$12,647,274 vs. $12,691,917
Total - $44,643
Misc. exceeded budget by $144k
Bldg. Permit related revenue less than
budget by $162k
Revenues
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Budget to Actual
$12,880,629 vs. $12,343,813
Total savings - $536,815
Open Positions - $130k
Parks Infrastructure - $200k
Expenditures
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Beginning Balance - $5,775,937
Ending Balance - $6,041,408
Reserve Calculation - 46.6%
CFMP specifies a range between 40% and 50%
*Not including 2016 proposed Budget Amendments ($233,000)
General Fund Reserve*
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EMV - $3.65B (3.2% inc.)
Residential - $2.73B (2.76% inc.)
New Construction - $44.7M (13.2% dec.)
TMV - $2.94B (3.48% inc.)
Pay 2017 Preliminary
Property Values
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General Fund
Parks Plan
Debt Service
Revolving Equipment Fund
EDA
Tax Supported Funds
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Cost Components
Personnel (69%)
Current Expenditures (29%)
Capital Outlay (2%)
Projected Increase - $150k to $250k
General Fund
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CIP Proposed 2017 Levy - $440k
Increase of $240k over 2016
Proposed 2016 levy of $270k reduced to
$200k
Parks Plan
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Proposed Issuance in 2016 - $2.755M
$1.71M – Manitou and 150
th
$425k – Equipment
$620k – Facility Repairs
Projected increase in debt service levy -
$400k
*Does not include 2007A WTP Refunding Bonds
Debt Service*
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CIP Proposed 2017 Levy - $600k
Increase of $275k over 2016
Proposed 2016 levy of $400k reduced to
$325k
Revolving Equipment
Fund
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2016 Budget - $181,425k
Tax Levy - $155,000
Use of Fund Balance - $15,925
2017 Preliminary Tax Levy - $155,000
Economic
Development Authority
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Service Challenges
Proactive Policing
Winter Maintenance
Transportation Projects
Aging Fleet impact to operations
Parks, trails and natural area maintenance
Technology Replacement
EAB
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Budget Strategies
Revenues
Street Lighting Fee
Street Overlay Assessment
Street Reclamation Assessment
Rec. Charges
Use of Reserves
Expenditures
Plan CIP projects over a longer period
Reduce OCI below 70
Reduce non-essential levels of service
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Council Feedback and
Direction
1.What level of tax levy increase is
acceptable for 2017?
2.What time-line is reasonable for funding
targets in the Revolving Equipment fund
and for parks in the general fund.
3.Is there support for enhanced revenue
sources?
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