Transcript '09-'10 Fiscal Year Budget Format

AUGUST 14 2012 BUDGET WORKSHOP NO. 5
12-13 FISCAL YEAR
PRELIMINARY BUDGET
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*
September 4th - 1st 5:05 PM Reading Tentative Budget (Public Hearing)
September 18th - 2nd 5:05 PM Reading Final Budget (Public Hearing)
*11:00 Council Lunch
*11:30-1:30 Work Session (Council Chambers)
** 3:00 pm Work Session (Council Chambers)
FY 12-13 Proposed Budget
Information

Council has conducted 4 workshops covering the
following:
 Budget
Format
 Capital Projects/Replacement & Renewals
 General Fund & Ancillary Funds
 Enterprise Funds

All Council changes have been incorporated into the
budget document.
FY 12-13 Proposed Budget
Information

The FY12-13 Budget is balanced at the roll-back rate of 6.1502.
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There are no rate or fee increases projected for any of the enterprises.
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There are no raises budgeted.
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Health Insurance rates rose by 2%. The City has implemented a wellness
incentive that will guarantee a premium rate hold for those employees who
participate.
The City has absorbed the increases in pension contributions.
The General Fund reserve for cash balance forward is fully funded at the
20% level.
All of the Enterprise funds are balanced revenues to expenditures, with the
exception of the Golf fund . Golf receives a transfer from the General
Fund.
FY 12-13 Proposed Budget
Information
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Savings from the Bond Debt refinancing have been incorporated into the
budget.
Interfund transfers have been adjusted accordingly to balance the budget.
A blend of the 3% & 10% reduction options have been incorporated into
the budget.
Savings from the VSIP have been incorporated into the budget.
Every effort has been made to provide and open and transparent
document.
The budget document will be submitted for the GFOA Award this year.
7 Strategies Progress for FY 12-13
Budget
1.
2.
3.
4.
5.
6.
7.
Blueprint to Fiscal Sustainability (ongoing)
3% & 10% budget reduction submittals (completed)
911 Communications Consolidation (ongoing)
Pension Reform (ongoing)
Debt Refinancing (completed)
Interfund Transfers (ongoing)
Voluntary Separation Incentive Program (completed)
What’s Next?
Permanent Solutions:
 911consolidation (Fire Only) ~$470K
 Pension Reform (TBD)
 Blueprint Committees (TBD)
Temporary Fixes:
 Transfer of $2.6M from 1/8 Mil Police & Fire Fund
 800 Mhz payment made from Renewal & Replacement Fund
(~$300K)
 OPD expenses moved to Police Trust & Agency Fund
(~600,000)
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
Total Deficit From July 10th G/F Workshop
(2,280,409)
Strategies to Reduce Deficit
OPD Reductions
800 MHz Payment Transfer
Delay Fire Station
Decrease in CST Revenue
Miscellaneous Corrections
Current Deficit
*Miscellaneous Corrections include:
Correction to Council Health Ins
Salary Increase - City Clerk Employee
Reinstate Rec & Park VSIP Position
Increase to Risk/insurance Allocation
Increase in Golf Transfer
Change in Reserves
19,911
(8,765)
(49,480)
(17,700)
(68,294)
171,167
46,839
366,278
303,243
1,680,251
(116,202)
46,839
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Questions/Comments