Transcript '09-'10 Fiscal Year Budget Format

JULY 10 2012 BUDGET WORKSHOP NO. 3
12-13 FISCAL YEAR GENERAL
FUND & ANCILLARY FUNDS
Operation Innovation
Innovation will serve to keep the plan in the forefront of all that
we do. Our actions should always be advancing the Plan.
Workshop Schedule
Schedule of FY 12-13 Council Work Sessions:
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June 7- Budget Format Workshop*
June 26- Capital Projects & Replacement/Renewal Fund Workshop*
July 10- General Fund (and smaller ancillary funds) Workshop**
July 24- Enterprise Fund Workshop (Electric, Telecommunications,
Water/Sewer, Sanitation, Golf & Airport)*
August 14-Preliminary Budget Presentation Workshop*
TBA- 1st Reading Tentative Budget (Public Hearing)
TBA- 2nd Reading Final Budget (Public Hearing)
*11:00 Council Lunch
*11:30-1:30 Work Session (Council Chambers)
** 3:00 pm Work Session (Council Chambers)
Items of Discussion
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Reserve Policy Adjustment
Fee increases (Development Services, Engineering, Recreation
& Parks, Telecommunications)
Proactive approach to curtailment of current year expenses
Continued culture and innovation enhancements
General Fund Balancing Strategies
FY 12-13 General Fund Information
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The General Fund is the main operating fund of the City. As such it bears the
brunt of costs associated with a majority of the City’s core functions.
The General Fund will be balanced using a millage of 6.1502, the Revenue
Neutral Option, which allows the City to collect the same tax revenue as in
the current fiscal year.
All cash balances available to the City, including a 20% reserve, have been
incorporated into the budget in an effort to enhance the transparency of the
budgeting process.
Salaries have been kept at current levels, as such there are no raises
programmed into the budget.
Enterprise Fund transfers were held to FY12 levels.
The General Fund will be balanced using the proposed fee increases from
Development Services, Engineering, Recreation & Parks.
The VSIP savings of ~$500,000 has been factored into the General Fund.
The City assumed the 2% increase in Health Insurance Premiums.
The General Fund will be balanced using a transfer of $1M from the 1/8
mil Police & Fire Fund.
Millage Information
FY2012/2013 MILLAGE RATES
When setting the tentative millage rates, Council should consider:
1.
2.
3.
The maximum millage rate that can be levied by a majority vote of City Council is the
rolled-back rate adjusted per the new legislation.
A millage rate of not more than 110% of the rolled-back rate adjusted for growth may be
adopted if approved by two-thirds vote of the City Council.
A rate in excess of the 110% described in #2 may be adopted if approved by a
unanimous vote of City Council or if approved by a referendum.
Additional Millage Information
For comparison purposes, the following schedule lists the current rate, rolled-back, the
maximum millage rate that can be imposed with a majority vote of City Council and
the amount of revenue that would be generated for each, based on a 95% collection
rate.
*Rolled Back Rate is not a tax increase
Vote
FY 13 Proposed
Revenue @
95%
FY 12 Actual
Revenue @ 95%
Incr/Decr over FY
12 Revenue @ 95%
Current Rate FY 12
Majority
$20,030,863
$20,888,517
($857,654)
6.11%
Majority Vote Max
Majority
$22,037,595
6.1502
0.00%
Rolled-back Rate
Majority
$20,769,546
7.1804
16.72%
2/3rd Vote Max
2/3rd Vote
$24,241,490
FY 12 Rate
% Incr/Decr over
RBR
Comments
5.9332
-3.56%
6.5276
REVENUE
NEUTRAL OPTION
General Fund Deficit
CASH BALANCE FORWARD
Adopted
YTD
Revised
Increase/
Increase/
FY 10-11
Budget
Actuals
Base Budget
Decrease
Decrease
Actuals
FY 11-12
FY 11-12
FY 12-13
Amount
Percentage
$0
$22,443,019
$21,512,427
$16,500,000
Revenues
$50,808,008
$48,592,420
$38,280,936
$48,609,077
$16,657
0.03%
Transfers from Other Funds
$11,358,680
$15,242,555
$10,053,018
$13,946,207
$(1,296,348)
-8.50%
Total Revenues & Transfers
$62,166,688
$63,834,975
$48,333,954
$62,555,284
$(1,279,691)
-2.00%
Operating Expenditures
$63,133,849
$64,730,249
$43,681,304
61,095,937
(3,634,312)
-5.61%
$3,333,077
$3,642,608
$2,759,521
3,739,756
886,414
24.33%
$66,466,925
$68,372,857
$46,440,825
$64,835,693
$(2,747,898)
-4.02%
$(4,300,237)
$(4,537,882)
$1,893,129
$(2,280,409)
Transfers
Total Expenditures
REVENUES - EXPENDITURES
General Fund Balancing Strategies
CASH BALANCE FORWARD (Estimated)
$ 16,500,000
Revenues
RESERVES
Reserve For Fund Balance
$ 12,942,139
Reserve For Contingencies
$ 1,110,128
Reserve For Fire Grant Match
$
96,238
Reserve For Affordable Housing
$
557,677
Expenditures
$ 61,095,937
Reserve For Tree Mitigation
$
115,351
Transfers Out
$ 3,739,756
Reserve For Discovery Science Center
$
20,000
Reserve For Salaries/OT/Retire/VSIP
$
458,467
Building Fund
$ 1,200,000
$ 16,500,000
DEFICIT
$
0
Transfers In
$48,609,077
$ 13,946,207
$ 62,555,284
$ 64,835,693
Budget Gap
$ (2,280,409)
Reserve Deficit
$
TOTAL DEFICIT
0
$(2,280,409)
STRATEGIES
PERMANENT OPTIONS
AMOUNT
PRIORITY TEMPORARY OPTIONS
AMOUNT
Comm Tech Consolidation (Fire Only)
$
476,973
Delay Fire Station
$
1,000,000
Reduce Reserves to 19%
$
647,107
800 MHz Payment Transfer
$
300,000
Reduce Reserves to 18%
$ 1,294,214
Enterprise Funds Transfers
$
2,280,409
OPD Reductions
$
700,000
Furloughs
$
1,800,000
Insurance Changes
$
360,000
Lay Offs
$ 1,000,000
Pay Cuts
$ 1,500,000
PRIORITY
Questions/Comments