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FY 14/15 BUDGET OVERVIEW
The FY 14-15 budgeted expenditures amount
•totals $30,912,416 for ALL funds (Previous $33,217,559,
$2,305,153 less)
Fund Balance shows a reduction of $3.277M due primarily to
•Capital Projects fund $1.161M
•Internal Service Fund $738K
•General Fund $660K
This represents a 21% fund balance decrease
Section 1 page 16 & 17
Compared to FY13/14 Estimated Budget
Town Council Budget Public Hearing – 09/22/14
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$696K – Operating Expenditures Increase
•$300K – future Westlake resident enrollment capacity
•$214K – increased debt service payments (2014 General Obligation Refunding)
•$100K – finalization of the 2014 Comprehensive Plan
$759K – Increased Payroll & Related Expenditures
•$198K – maintain current staff, performance pay, 3% market adjustments (3% WA $149K)
•$135K – add 1 FTE Firefighter; add .50 deputy court clerk; change one .50 employee to FTE
•$189K – transition two shared services employees to municipal budget
•$236K – insurance, payroll taxes, workers comp, unemployment, retirement
Section 1 page 6 & 7
FY 14/15 BUDGET OVERVIEW
Compared to FY13/14 Estimated Budget
Reasons for 14% Increase
Town Council Budget Public Hearing – 09/22/14
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Section 1 page 10
AD VALOREM TAX RATE
FY 10/11
Actual
FY 11/12
Actual
FY 12/13
Actual
FY 13/14
Estimated
FY 14/15
Proposed
Total Appraised Value $1.025B $1.090B $1.209B $1.227B $1.258B
percent change 6.37% 10.91% 1.48% 2.49%
Net Taxable Value $880M $913M $864M $853M $880M
percent change 3.74% -5.33% -1.29% 3.15%
Property Tax Revenue $1.409M $1.432M $1.355M $1.338M $1.376M
percent change 1.63% -5.33% -1.29% 2.82%
Net Taxable Value increased by $26,875,626 (3.1%) over September’s supplemental
information for FY 13-14.
A large portion of the increase was attributable to
•5.3% increase in Residential property values
•3.7% decrease in Commercial property values
Town Council Budget Public Hearing – 09/22/14
Based on July 2014 Certified Tax Roll
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AD VALOREM TAX RATE
FY 13-14
Adopted
FY 14-15
Proposed
Change
Amount
General Fund M&O $0.13907 $0.13710 ($0.00197)
Debt Service I&S $0.01777 $0.01924 $0.00147
Total $0.15684 $0.15634 ($0.0005)
Town Council Budget Public Hearing – 09/22/14
Section 1 page 10
Proposed Tax Rate and Change
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FUNDED CIP S UMMARY
Section 9 Page 95
PROJECT AMOUNT PROJECT DESCRIPTION STATUS
1,125,000 Fire Station Complex Land Purchase New
1,000,000 FM1938 Streetscaping 3rd & final year
902,806 WA Expansion Phase I Construction 2nd & final year
453,000 Roanoke Rd Reconstruction & Drainage South New
266,000 Sam School Rd Reconstruction & Drainage New
100,000 Dove Rd Reconstruction & Drainage Vaq -TB New
195,000 Trail & Park Improvements New
99,000 Outdoor Warning System FY 13/14 Carry Over
63,000 Water Line & Well Improvements New
$4,203,806 TOTAL CAPITAL PROJECT FUNDS
$250,000 TRA Assumption of N1 Sewer Line 10th year
$38,500 Meter Reading Equipment New
$288,500 TOTAL UTILITY FUND PROJECTS
$4,492,306 TOTAL FUNDED PROJECTS
** Fort Worth water line extension $2.1M
Fiscal Year 2014/2015
Town Council Budget Public Hearing – 09/22/14
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Town Council Budget Public Hearing – 09/22/14
Section 10 page 144
GENERAL FUND PROJECTION 8 Year Forecast
Shown in millions
ESTIMATED Proposed Projected Projected Projected Projected Projected Projected Projected
FY 13-14 FY 14-15 FY 15-16 FY 16-17 FY 17-18 FY 18-19 FY 19-20 FY 20-21 FY 20-21
Beginning Fund
Balance $5.813 $5.897 $5.226 $5.105 $5.661 $5.167 $4.824 $5.117 $4.481
Revenues &
Transfers In $7.071 $7.935 $8.098 $8.611 $7.625 $8.068 $9.282 $8.502 $9.067
Expenditures &
Transfers Out -$6.987 -$8.606 -$8.218 -$8.055 -$8.120 -$8.410 -$8.989 -$9.138 -$9.380
Net Total $5.897 $5.226 $5.105 $5.661 $5.167 $4.824 $5.117 $4.481 $4.168
Total Restricted
Funds $0.265 $0.255 $0.260 $0.265 $0.271 $0.276 $0.282 $0.287 $0.293
Ending Balance
(projected) $5.632 $4.971 $4.845 $5.396 $4.896 $4.548 $4.836 $4.194 $3.875
Operating Days 323 243 236 263 220 197 196 168 151
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