Transcript Slide 1
TOWN OF MONTREAT FISCAL YEAR 2013-2014 Annual Budget Public Hearing and Presentation to the Board of Commissioners June 13, 2013
2013-2014 Budget Overview
• Total Budget: $2,866,305 • General Fund Budget: $2,469,955 $241,765 decrease from last year • Water Fund Budget: $396,350 $96,700 decrease from last year • Proposed Tax Rate Increase to 0.41 (Four Cents) • One Cent on the Tax Rate Generates $23,463 • Proposed Water Rate Increase ($4.49 to $4.83 per 1,000 gallons)
The Budget is Divided into Six Sections:
• Introduction – Contains the budget message and information about the Town’s organization • Policy Document – Gives a coherent statement of the organization-wide financial and programmatic policies and goals that address long-term concerns and issues • Financial Plan – Describes all funds that are subject to appropriation as well as a summary of revenue sources and expenditures
The Budget is Divided into Six Sections:
• Operational Guide – Describes the activities, services and functions carried out by each department of the Town • Capital Improvements Plan – A flexible financial planning tool that forecasts the Town’s equipment, building and infrastructure needs • Glossary and Miscellaneous Statistics
Significant Impacts Shaping the Budget
• Capital Projects – Texas Road Paving, Texas Road Bridge, Construction of a New Town Hall and Public Works Facility, Water Storage Tank and a Vehicle • Personnel Costs including cost of living adjustments and insurance increases • Economic slowdown and its affect on revenues • Proposed Tax Rate Increase • Proposed Water Rate Increase
General Fund Revenue Highlights
General Fund Revenues FY 2013-2014
Investement Earnings $5,500 0.2% Miscellaneous $4,500 0.2% Other $348,855 14.1% Sales and Services $24,000 1.0% Permits and Fees $40,000 1.6% Restricted Intergovernmental Revenues $711,500 28.8% Unrestricted Intergovernmental Revenues $109,000 4.4% Ad Valorem Taxes $906,600 36.7% Other Taxes $320,000 13.0%
General Fund Revenues
• Buncombe County Revaluation – Revenue Neutral Tax Rate equals a one penny increase on tax rate.
• Board proposes an additional three penny tax rate increase to help fund much needed capital improvement projects.
• Estimated revaluation rates and real and personal property tax base growth for 2013-2014 will be just under a half percent (1/2%) • There is a no projected growth in sales tax ($320,000) and State Shared Revenues.
• An appropriation of $202,955 from the Fund Balance will be required
General Fund Expenditure Highlights
General Fund Expenditures FY 2013-2014
Sanitation $103,600 4% Environment, Conservation & Recreation $11,000 1% Governing Body $133,600 5% Powell Bill $43,500 2% Administration $289,000 12% Public Buildings $102,805 4% Police $336,250 14% Streets $1,263,000 51% Public Works $79,200 3% Building & Zoning $108,000 4%
Personnel
• Cost of Living Adjustment Two and a half (2 1/2%) percent increase effective 7/1/13 except for the town administrator.
• Health Insurance Health Insurance deductible and Coinsurance increased just over 8%.
• 401(K) Contribution Continues 5 percent contribution effective 7/1/13.
• Staffing Maintains current staffing level.
Governing Board
• Legal and Audit Services ($48,500) • Department supplies increased to complete • Election Expense ($2,500) • Allocates $50,000 for the Interfund Transfer to the Water Fund
Administration
• Tax Collection Fee ($14,000) • Under M&R Equipment, $4,000 has been budgeted for the ICS Payroll Module and $2,900 for the conversion of the Town’s email system to Microsoft 365.
Public Buildings
• Utilities, Insurance and Maintenance/Repair ($55,900) • Allocates funding for the first payment of the construction of a new town hall and public works facility ($47,805)
Police
• Dispatching Services ($17,850)
Planning and Zoning
• UDO Form Based Code development ($35,000) • Allocates funding for operating and maintaining the new Geographic Information System.
Public Works
• Phase II Stormwater Program and Tree Replacement Program
Powell Bill
• Small paving project costs ($24,000)
Streets
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Street Lighting ($23,500)
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Tree removal services ($12,000) and Contract Labor for road maintenance ($4,000)
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Texas Road Paving and Stormwater Drainage Project ($194,000)
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Texas Road Bridge Project ($825,000)
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Replacement of the 1994 Truck ($45,000)
Sanitation
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Continuation of in-house sanitation services including garbage collection and disposal, recycling, yard waste and white goods pick-up and disposal ($103,600)
Environment and Recreation
• Landcare Committee ($1,000) • Native Plant Garden Construction • Open Space Conservation Fund
2013-2014 General Fund - Categorical Expense Debt $ 0% Personnel $863,300 35% Capital Outlay
$
1,151,805 47% Operating Expenses $454,850 18%
Water Fund Revenue Highlights
Water Fund Revenues Proposed FY 2013-2014
Miscellaneous $6,400 1.6% Retained Earnings $12,450 3.2% Interest on Investments $500 0.1% Water Taps $2,000 0.5% Other $50,000 12.6% MSD Billing Fees $20,000 5.0% Water Sales $305,000 77.0%
Water Fund Revenues
• Operating revenues are budgeted at $396,350 • This amount represents a $96,700 or a 19.6% decrease in revenues budgeted last year • Assessment loan proceeds of $119,000 is budgeted for upper Kentucky • $12,450 is appropriated from Retained Earnings • A Water Rate increase is proposed
Water Fund Revenues
• Proposed Water Rate Increase – Water rate per 1,000 gallons increases from $4.49 to $4.83
– Residential water access fee remains unchanged at $14.00
– Institutional water access fee for 1” lines remains unchanged at $95.00
– Institutional water access fee for 2” lines remains unchanged at $220.00
Water Fund Revenues
Town of Montreat Sample Residential Bill - Present vs. Proposed Rates Present Rates
Usage (gallons) Water Water Sewer Sewer Billing fee Total bill 4.49/1000 14.00/mo 5.32/1000 11.14/mo 0.35/mo
Proposed Rates (MSD tentative)
Usage (gallons) Water Water 4.83/1000 14.00/mo Sewer Sewer Billing fee 5.45/1000 11.42/mo 0.35/mo Total bill
Total Bill Difference Water Rate Difference
0 $ $ 14.00 $ $ 11.14 $ 0.35 1,000 $ 4.49 $ 14.00 $ 5.32 $ 11.14 $ 0.35
$ 25.49 $ 35.30
0 $ $ 14.00 $ $ 11.42 $ 0.35 1,000 $ 4.83 $ 14.00 $ 5.45 $ 11.42 $ 0.35
$ 25.77 $ 36.05 $ 0.28 $ $ 0.75 $ 0.34
5,000 $ 22.45 $ 14.00 $ 26.60 $ 11.14 $ 0.35
$ 74.54
5,000 $ 24.15 $ 14.00 $ 27.25 $ 11.42 $ 0.35
$ 77.17 $ 2.63 $ 1.70
10,000 $ 44.90 $ 14.00 $ 53.20 $ 11.14 $ 0.35
$ 123.59
10,000 $ 48.30 $ 14.00 $ 54.50 $ 11.42 $ 0.35
$ 128.57 $ 4.98 $ 3.40
Water Fund Expenditure Highlights
Water Fund
• Water Line Replacement – Texas Road ($39,500) and Upper Kentucky ($119,000) • Water storage facility on Greybeard – first payment - $89,150 • Debt Service Payment ($119,600) – Water Bond Payment ($37,500), ARRA Debt Service ($32,100) and Greybeard property purchase ($50,000) • Contribution to General Fund - $73,800
2013-2014 Water Fund - Categorical Expense Debt $119,600 30% Personnel $ 0% Operating Expenses $148,100 37% Capital Outlay $128,650 33%
Budget Calendar
• May 9 – June 13 Budget Review by Board of Commissioners • June 13 Public Budget Hearing of Proposed Budget • June 13 – June 27 Additional Time for Review and Amendments • June 27 Adoption of Final Budget
Budget Document Availability
• Filed with Town Clerk at the Town Services Building • Regular Meetings of the Board of Commissioners • Budget Document is available on our website at: www.townofmontreat.org