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Budget presentation
Town of Westlake Public Hearing FY 10-11 Budget Consideration September 29, 2010 Budget Process to Date •May 24, 2010 Council Financial Sustainability Planning Retreat •August 20, 2010 Budget Retreat •Plus, 3 Public Mtgs Re: Ad Valorem Tax 2 4/5/2013 FY 10-11 Budget Consideration Budget Themes •FY 09-10 “Critical Challenges, Critical Choices” •FY 10-11 “Securing the Vision” 3 4/5/2013 FY 10-11 Budget Consideration FY 09-10 Achievements / Milestones •Phase I FM 1938 Begun (TxDOT) •Fidelity Phase II Occupancy Begun •Stagecoach Hills Drainage Completed ($47,995) •5 Year CIP Compiled •Opening of Sam & Margaret Lee Arts and Sciences Center •Awards & recognition Received •Solana / Terra Bella Trails Linked •Citizen Outreach Efforts Continue 4 4/5/2013 FY 10-11 Budget Consideration Governing & Managing for Outcomes •Strategic planning •Five (5) year financial forecasting, budgeting, and performance measurement linked to priorities, objectives, and outcomes •Reporting to monitor progress in outcome achievement and accountability for results •Aligning resources to prioritized outcomes •Citizen surveys to gauge service satisfaction levels with Town services and resident willingness to pay for those services •Long term approach to ensure financial sustainability •Maintaining core services •Five (5) year capital improvement planning 5 4/5/2013 FY 10-11 Budget Consideration FY 10-11 Proposed Budget General Fund $3,400,015 $3,308,260 $4,398,952 ($1,090,693)$2,309,322 -32% Academy 584,909 4,779,213 4,749,094 30,119 615,028 5% Special Revenue 2,797,969 2,547,508 2,488,381 59,127 2,857,096 2% Debt Service Fund 0 1,503,278 1,503,278 0 0 0% Capital 230,391 450,000 450,000 0 230,391 0% Utility Fund 1,290,356 2,426,766 2,513,173 -86,407 1,203,950 -7% Internal Services 115,100 41,274 91,324 -50,050 65,050 -43% TOTAL $8,418,740 $15,056,299 $16,194,203 ($1,137,903)$7,280,837 -14% Ending Fund Balance Inc. (Dec.) Percent Fund Type Beginning Fund Balance Revenues and Other Funding Sources Expenditures and Other Funding Uses Net Change 6 4/5/2013 FY 10-11 Budget Consideration FY 10-11 Budget Highlights •Expenditures held flat, slightly less than 09-10 estimate •No service level increases •General Fund revenues declining •Project use of $1,090,693 in fund balance to balance General Fund •Includes debt cost of $1,503,278 •No street/drainage infrastructure CIP needs funded •WA direct costs moved to WA operating budget 7 4/5/2013 FY 10-11 Budget Consideration Primary Revenue-Sales Tax Trend 8 4/5/2013 FY 10-11 Budget Consideration One-Time Permits & Fees Analysis $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 $1,600,000 $1,800,000 $2,000,000 FY 04/05 Actual FY 05/06 Actual FY 06/07 Actual FY 07/08 Actual FY 08/09 Actual FY 09/10 Estimated FY 10/11 Proposed $7 4 0 , 0 2 7 $6 4 9 , 5 3 7 $6 7 0 , 7 0 1 $5 6 3 , 4 8 6 $5 1 2 , 4 6 5 $4 4 7 , 7 6 5 $3 6 7 , 4 5 5 $9 8 , 4 8 0 $2 2 9 , 4 2 0 $5 4 4 , 5 9 7 $3 4 8 , 2 3 3 $1 , 4 2 9 , 4 0 0 Remaining Permits & Fees Lg Remodel/Construction 9 4/5/2013 FY 10-11 Budget Consideration Utility Fund Five Year Financial Forecast Based on current water and sewer rates. Utility Fund (Enterprise Fund) Beginning Fund Balance 1,496,710$ 1,290,356$ 1,203,949$ 954,728$ 804,825$ 571,693$ Revenues 2,362,516 2,408,766 2,481,029 2,555,460 2,632,124 2,711,087 Impact Fees 40,000 18,000 18,540 19,096 19,669 20,259 Payroll, Benefits, and Related Expenditures (226,063) (227,292) (234,111) (241,134) (248,368) (255,819) Expenditures (691,803) (713,162) (734,557) (756,594) (779,291) (802,670) Water Purchases (1,051,600) (1,051,600) (1,083,148) (1,115,642) (1,149,112) (1,183,585) Interfund Repayments (50,851) (29,731) (29,731) (29,731) (29,731) (29,731) Debt Service (Hillwood Infrastructure Pymt)(50,000) (108,000) (111,240) (114,577) (118,015) (121,555) Debt Service (Keller Overhead Storage)(116,053) (116,468) (116,668) (118,212) (119,462) (118,949) Debt Service (Ground Storage Tank/annual payments)- - (77,925) (169,572) (168,277) (171,636) Capital Projects (360,000) (248,920) (311,700) - - - Transfer Out - Utility Major Maintenance (annual contribu (22,500) - - - - - Transfer Out - General Fund (Impact Fees)(40,000) (18,000) (18,540) (19,096) (19,669) (20,259) Transfer Out - Vehicle/Equipment Replacement Fund - - (31,170) (159,900) (253,000) - Net Fund Balance 1,290,356 1,203,949 954,728 804,825 571,693 598,835 Restricted Funds 135,000 135,000 135,000 135,000 135,000 135,000 Ending Fund Balance (projected)1,155,356$ 1,068,949$ 819,728$ 669,825$ 436,693$ 463,835$ Operating Days 197 176 131 104 66 68 10 4/5/2013 FY 10-11 Budget Consideration Utility Cost Increases •Wholesale water cost increase •Waste water treatment cost increases due to funding plant expansion •Staff to present recommendations in Fall 2010; prospective effective date 1/01/2011. 11 4/5/2013 FY 10-11 Budget Consideration Utility Capital Projects •FY 09-10 Stagecoach Hills $360,000 Water Distribution Improvements •FY 10-11 N-1 Sewer Line $248,920 Inflow/ Transfer Repairs 12 4/5/2013 FY 10-11 Budget Consideration Survey Results 13 4/5/2013 FY 10-11 Budget Consideration Survey Results 14 4/5/2013 FY 10-11 Budget Consideration